Peiter Zatko, former security chief of Twitter, Inc. (TWTR), has turned whistleblower and testified that the company misled users and federal regulators about gaps in its security. Zatko further claimed that TWTR underestimated how many fake and spam accounts are on its platform and is riddled with dangerous security problems.
Even before the former security chief’s allegations, shares of TWTR have been declining sharply since Tesla, Inc.’s (TSLA) CEO Elon Musk threatened to end his $44 billion deal to buy TWTR. Musk accused the social media company of hiding information about the number of bot and spam accounts on the platform. Musk’s attorney Mike Ringler claimed that TWTR has not complied with its contractual obligations.
