Trump's Truth Social Hacked Within Hours of Announcement

[Initech]

Former President Donald Trump's new social media platform was reportedly hacked within hours of its announcement.

Trump announced he was launching a new media company, Trump Media & Technology Group, and its "Truth Social" app on Wednesday. The "Truth Social" app will begin a beta launch for "invited guests" in November, with a nationwide rollout planned for early 2022, according to a press release.

But people were able to sign up to create accounts using a publicly available link, Drew Harwell, a technology reporter for The Washington Post, said on Twitter late on Wednesday.

"I literally just registered 'mikepence.' The site hasn't even launched yet and it's already this vulnerable," Harwell added. In a subsequent tweet, he revealed that account had been suspended.
https://www.newsweek.com/trump-truth-social-hacked-within-hours-announcement-1641137?amp=1

Ah ha ha ha ha ha ha ha ha ha ha!!! This is too damn good!

[Hugh_Lebowski]

1. That's not really hacking, but ... definitely a security oversite of a certain very basic type

that suggests the administrators of the servers are total hacks.

[2Gingersnaps]

2. And this isn't just a joke that went to far, it is for reals. Didn't know what a SPAC was!

https://www.rawstory.com/trumps-media-venture-gives-him-access-to-300m-but-investors-were-aware-he-was-involved-report/

[LetMyPeopleVote]

4. This deal smells

This deal smells. At best TFG has a start up and how one can merge a start up into a SPAC does not sound right.

Special Purpose Acquisition Corporations were the rage last year. According to my son, they are loss leaders for the SEC public offering work but the biglaw firms are working on these deals on discount to get the acquisition work. SPACs are blank check companies with no assets and so are easy to get through the SEC review process because there are no financials or description of business. There were some recent changes to the accounting rules that evidently caused the number of SPAC offerings to drop in the second half of 2021.
TFG is merging a yet to be formed company with a brand new SPAC

Link to tweet

This is a SPAC with chinese executives

Link to tweet

Link to tweet

This is interesting

Link to tweet

TFG will cause this entity to fail

Link to tweet

The EDGAR (SEC) filings do not cover this transaction.. The merger agreement and the form 8-k for this transaction has not been filed with the SEC and is not on EDGAR. Normally one cannot announce a deal like this without a Form 8-k filing being released at the same time

At some point, the merger agreement will have to be filed with the SEC and I will keep an eye out for this filing

[LetMyPeopleVote]

3. Pranksters have already defaced Trump's new social network

A public company is investing in this piece of crap. There will be some fun litigation

Link to tweet

Former president Donald Trump and his team declared Wednesday night that they would soon launch a “media powerhouse” that would help them triumph in their long-running war against Big Tech. But within hours, pranksters found what appeared to be an unreleased test version and posted a picture of a defecating pig to the “donaldjtrump” account.

The site has since been pulled offline — evidence that Trump is likely to face a daunting challenge in building an Internet business that can stand on its own.

Banned by all major social networks after his supporters stormed the U.S. Capitol on Jan. 6, Trump has for months agitated to regain the online megaphone that once blasted his voice around the world. In a presentation released Wednesday by his new media company, Trump Media & Technology Group, his team hailed the new social network as the first tentpole for a Trump-led media, news and Internet empire that would one day compete with Disney, CNN and Facebook.

But the site’s early hours revealed lax security, rehashed features and a flurry of bizarre design decisions. An open sign-up page allowed anyone to use the site shortly after it was revealed, sparking the creation of the “donaldjtrump” account and the pig posting. A Washington Post reporter was able to register and post under the account name “mikepence” without any stops in place. New sign-ups were blocked shortly after.

[Initech]

6. Love that he's reserving the right to use section 230 protections!

Isn't that what he railed against for like 4 years and held multiple Congressional hearings on?

[fescuerescue]

5. Registering an account isn't really hacking

Isn't that what they want anyway?

[LetMyPeopleVote]

7. TFG's New Social Media Site Plans to Raise Money With Shell Company Scheme

SPACs are interesting animals where the investors form an acquisition company to buy an existing company or operations and in effect take such operations public without doing an IPO. According to a friend at a big frim, SPACs are sort of loss leaders for SEC corporate types because you are not filing financial statements and the other disclosures about the company/operating going public. Normally a SPAC acquires an operating company with revenues and assets. This SPAC is acquiring a start up operation that does not have a working website and no revenues or operations at a value that "something that surely wasn’t pulled out of the former president’s ass." TFG took the public company that owned his casinos into bankruptcy while taking out large bonuses for himself. This deal smells

Link to tweet

Former President Donald Trump, a white supremacist who barely knows how to use a computer, announced late Wednesday that he plans to launch a new social media platform next year called Truth Social, with beta testing opening up to select users in November. And while the site was almost immediately infiltrated by pranksters mere hours after the announcement—long before people were supposed to be allowed to even create accounts—that’s not the most interesting part of the story.

No, the most interesting thing about Trump’s planned social media platform is how it’s going to be used to make money. Because wherever Donald Trump goes, extremely shady business practices always follow. And it’s going to be very interesting watching MAGA investors almost certainly get fleeced by Trump’s new business endeavor, which is looking to go public through a special purpose acquisition company, or SPAC.

The business that’s launching Truth Social is called the Trump Media and Technology Group (TMTG), which has a business address listed as Mar-a-Lago but isn’t registered yet with the state of Florida, as far as Gizmodo can tell. TMTG is valued at $1.7 billion according to a very real figure tweeted by spokesperson Liz Harrington—something that surely wasn’t pulled out of the former president’s ass.

TMTG will be merging with a shell company called Digital World Acquisition Corp. for the sole purpose of getting listed on a stock exchange, according to the Wall Street Journal. That way, Trump Media and Technology Group gets to go public by piggybacking on a different company and Trump’s “media and technology” company gets to avoid a ton of regulatory hurdles that exist to keep companies somewhat transparent under the theory that investors are less likely to get screwed.

......Normally, we’d be extremely wary of shady SPAC deals with unproven companies, but this is a special situation. Anyone who invests in Trump or his shell company know exactly what they’re getting into. If you support former President Trump, we encourage you to dump all your money into Trump Media and Technology Group. You’ll get everything you deserve.

Link to tweet

[MontanaMama]

8. Maybe day two will be better...

[andym]

9. Great name for Trump's social network: Truth is "Pravda" in Russian (Правда)

Last edited Thu Oct 21, 2021, 07:06 PM - Edit history (1)

And Pravda was the official propaganda organ of the Soviet Union.

[moondust]

10. Правда?

Правда = Pravda = Truth

I'm sure it's just a coincidence that TFG named his media platform after the main propaganda outlet of the Communist Party of the now defunct Soviet Union.

[MOMFUDSKI]

11. truth social

as opposed to Ice Cream Social? Just asking.