Ok, so Twitter may not be suffering as much as this poor guy, but Twitter should be equally embarrassed. Within the last 30 days, Twitter has had several high profile security incidents: an unintentional direct message leaks, an ongoing phishing attack, and now a hack of at least 33 high-profile accounts. Unfortunately neither Twitter or the reported perpetrators are giving specifics about how the hack was pulled off (I'll gripe about that at some later date), so we can't discuss ways to mitigate and prevent such attacks. However, we can expound on what we do know and why this compromise was potentially catastrophic for Twitter.
So, what happened?
By reading Twitter's own post, we can conclude that some of Twitter's admin functionality were compromised. The admin tool allowed the support team to edit an account's email address. This seems innocuous enough, right? In this age of multiple work, school, and personal email addresses, it's not surprising for a user to forget the address used during registration. Twitter's support tool was created just to handle such a scenario. Unfortunately for the Twitter team, though, they forgot to not only ensure that the admin tool was only accessible by their support staff but that the admin tools were designed with security in mind. Sadly, many companies don't realize that the administrative portions of their applications are prime targets for malicious users. In Twitter's case, the admin tool allowed a malicious user to change the targeted account's email address to an attacker controlled email address. The attacker could then use Twitter's "Forgot Password" link to have a new password emailed to the attacker controlled email address. Using a system's password reset functionality to compromise an account sounds pretty familiar to the Sarah Palin "hack" (and I use the term "hack" lightly) not too long ago.
So, why is this such a big deal?
Fundamentally, Twitter is a communication transport and as such, users not only expect data integrity ("Did what I write actually get communicated?", "Did I receive what was actually written?") but also data authenticity ("Did I receive this message from the real author?"). [Apologies to all the cryptographers out there for the over simplification] While Twitter is limited in their ability to verify the account owner's real-life identity, Twitter *is* responsible for the authenticity of the accounts on their system. Their current solution is the traditional username/password that we're all familiar with. However, if Twitter's administrative tools were compromised (as their own posting alludes to), Twitter failed to provide that authenticity since malicious users were able to change account passwords. While the attack was occurring, Twitter was unable to guaranty the authenticity of the messages being sent out to the millions of followers of the celebrities that were targeted. During those few hours, Twitter essentially ceased to be.
That is why getting security right is so important.
Driven by the adoption of several tech luminaries and jettisoned by the mainstream adoption of a group of high profile celebrities that even your mother would recognize, Twitter has had a meteoric rise within the social-networking field. Being a start-up, can Twitter really afford to be constantly putting out security fires? How do these incidents impact their ability to attract more users? Better yet, what will these incidents do to their user retention? Twitter's "microblogging" service isn't too different from Facebook's status messages. Most of the targeted accounts also have Facebook accounts, a switch of platform would be very low effort for them. Could Twitter go the way of their competitors because security vulnerabilities cause users to lose faith?