There's an interesting question here about what extent inflating engagement metrics such as MAUs/DAUs is fraudulent. There are lots of subjective edge-cases - do you count multiple profiles as multiple users? Does _any_ engagement qualify as activity? How aggressively do you discount your metrics based on assumed botting rates?

Twitter has overstated it's DAUs previously by 1.9m per quarter[1]. If this has a direct impact on the price, is this therefore fraud? I think we wouldn't be in this situation if the rules were clearer.

[1] https://www.theverge.com/2022/4/28/23046170/twitter-miscount...