Our liability as Twitter app developers
peternixey.com
peternixey.com
Contrast with Facebook which has a much better implementation of finely grained permissions where you can opt to only ask for the permissions your application needed.
In the end, we switched to asking for read-only permissions for most users and let them upgrade to read-write the first time they wanted to perform a Twitter-write operation. This was a hassle from an engineering point of view but did completely eliminate complains about us asking for too much access: http://lanyrd.com/blog/2012/twitter-read-only/
We eventually moved to our own social graph, which eliminated the need to update Twitter's graph from our interface entirely.
Facebook's minimum level of permissions is still infuriatingly broad. I hate getting "why do you need my friends list and public profile?!" feedback on our Facebook apps. If I could opt out of them, I would - often, I just want your FB ID and e-mail!
"In April of this year crackers got hold of the Associated Press Twitter account and wiped an estimated $135Bn off the S&P 500 Index by tweeting that explosions at the White House had injured president Obama."
And the stock market rebounded and then some over the coming weeks, reaching new recent highs in May and June... So the effect lasted... a couple of hours?
When people talk about stock market value being "wiped out", they neglect to say that the market fully recovered later that afternoon, or that the market is higher today than it was back then. If you can't acknowledge that stock prices change every second, and that dips or rises are often temporary moments that affect very few shareholders of that company, then the phrase "billions of dollars was wiped out" is just meaningless hyperbole.
What they are saying, in essence, is "this is how much money was on the table to be stolen because of that tweet."
In cases like that, you need some kind of panic button to eliminate all threats, instead of having to go through every single app and delete their access to be safe.
I think if you really try even your account could move a stock. Think about it: A tweet with location (in front of a big company's CEO's house) early in the morning when you know the 'target' is commuting, flying or otherwise offline, followed by a tweet 'just killed the bastard' with a fake photoshopped picture of a body'. If someone was to target a person with a love of guns on their timeline... well things could get messy real quick.
There was some contention about that last year with the NetFlix CEO releasing subscriber numbers on Twitter that affected the stock, but the SEC issued guidance earlier this year that said that disclosure on Twitter and Facebook were ok, as long as the accounts were public.
source: http://www.nbcnews.com/technology/ap-twitter-account-hacked-...