After a top internet security expert claimed that as many as eight out of every 10 Twitter accounts are fake, Elon Musk went after the company lead by Parag Agrawal once again.
Shares in Twitter fell after Elon Musk announced he was pulling out of the deal to buy the social media platform.
Sources state that Elon Musk backed away from his threat following Twitter’s release of a report outlining various issues on the site, such as spam and fake accounts.
Twitter estimates that only 5% of its users are bots, or fake accounts. “My sources, who have worked in cybersecurity for 20 years, estimate as many as 80% of Twitter accounts are bots.”, Musk said.
“Sure sounds higher than 5 per cent,” tweeted Musk, along with tagging the news article.
“On a $/bot basis, this deal is awesome,” he chuckled.
Sure sounds higher than 5%!— Elon Musk (@elonmusk) September 1, 2022
Musk has terminated the $44 billion deal to take over Twitter. The US government is now involved because bots still exist on the platform, and Agrawal will be asked questions via an open forum in order to answer these concerns.
Twitter has a problem with bots and have not seen this coming. Woods speculates that both Musk and Twitter underestimated the issue on the micro-blogging platform.
Musk is trying to buy more time in the settlement trial, which is set for October 17th. He cited testimony by whistleblower Peiter “Mudge” Zatko.
Chris Zatko will testify at US Congress to discuss the accusations he made against Twitter on September 13.
Twitter tricked the regulators about its security practices and actual number of bot accounts.
In a lawsuit between Twitter and Musk, Zatko has received a subpoena to appear for questioning.
Elon Musk has said that the testimony of the Twitter whistleblower justifies his termination of the $44 billion deal to buy the micro-blogging platform.
The Tesla CEO will have to prove Twitter violated some aspect of the merger agreement, or he will have to pay a $1 billion fine for cancelling the deal.