AP hack hits Wall Street, Twitter tests 2-step verification, and Psy hires a cook | This Week In Social Media

AP Twitter hack causes a stock market stumble

On Tuesday, hackers gained control of the Associated Press’ Twitter account and posted a false report of explosions at the White House causing injury to the President. Almost immediately, the Dow Jones Industrial Average began to fall, dropping at least 140 points in the five minutes it took the AP to recognize the attack and issue a correction. The dramatic market response is the result of headline scanning software that pulls breaking news from social media to make instant algorithm-based trading decisions. Responsibility for the hack was quickly claimed by the Syrian Electronic Army, which had staged attacks on two CBS News Twitter handles over the weekend.

Twitter to offer 2-step verification

In the wake of Tuesday’s AP hack, Twitter now has “a working two-step security solution” currently undergoing internal testing, Wired reports. 2-step verification systems—as offered by Google, Apple, and others—can prevent hackers from gaining access to an account far more effectively than the account’s password alone. Multifactor authentication requires the user to enter two things when logging into an account from a new location:  the password, and a randomly-generated code sent to the user’s mobile device via SMS or through an application. As attacks on high-visibility Twitter accounts become increasingly common, 2-step verification becomes all the more crucial in protecting account integrity.

Psy wants YOU! (to cook for him)

K-pop star and all-around Gangham man Psy needed to hire a cook to accompany him on a world tour, so he turned to the platform that made him famous for help. Psy’s YouTube job posting (nearly seven million views as of April 25) is creative, funny and a great promotion for Bibigo—a Korean food website and restaurant chain growing in the United States and the UK. It’s less a job posting than a contest where potential applicants are encouraged to upload videos of themselves “mixing it up”. Videos go through a screening process with three finalists emerging for interviews and missions. One lucky chef will emerge with a 31-day gig worth $40,000 plus unlimited stories about hanging out with Psy at exclusive parties and whatnot. Life could be worse.