Twilio Falls Prey To Hackers: Report

Digital authentication solutions provider Twilio Inc TWLO said a scheme by which outsiders duped employees into handing over their passwords hacked some of its employees' and customers' accounts.
Twilio became aware of the incident on August 4.
"This broad-based attack against our employee base succeeded in fooling some employees into providing their credentials," Twilio said.
"The attackers then used the stolen credentials to gain access to some of our internal systems, where they were able to access certain customer data."
Twilio hired a computer forensics firm to identify the hackers and assist in the remediation of the breach.
According to experts, in the past three days, hackers targeted companies providing two-factor authentication services to steal cryptocurrency, compromise telecommunications companies, and breach customer relationship management portals, Bloomberg reports.
"The social engineering method to gain access to credentials via text message to log in as the user and then steal data is becoming more common," said an expert.
Earlier this year, hackers compromised the two-factor authentication provider Okta, Inc OKTA, Microsoft Corp MSFT, and Nvidia Corp NVDA.
Price Action: TWLO shares traded lower by 1.67% at $85.04 in the premarket on the last check Tuesday.