US pharma giant Eli Lilly sheds billions because of impostors with fake Twitter blue tick

Impersonators on Twitter continue to cause havoc as US pharma giant Eli Lilly became  latest victim on Friday. Eli Lilly lost billions as ir stock plummeted after a fake Twitter account with a blue tick claimed 'insulin is free w.'

With company's share price dropping significantly, y issued an apology to everyone who was affected. Eli Lilly is one of many that have been negatively impacted ever since new Twitter owner Elon Musk anunced new subscription guidelines for Twitter Blue.

Eli Lilly becomes latest victim due to fake Twitter Blue post

As seen in im below, an impersonator pretending to represent Eli Lilly posted a major piece of fake news by taking to Twitter and writing, "We are excited to anunce insulin is free w." While this news came as a massive delight to general public, investors did t take information too kindly as several sold off share, resulting in Eli Lilly losing billions in market cap.

Soon after this fake post caused havoc among investors of Eli Lilly in stock market, pharmaceutical company issued an apology. y took to ir official Twitter handle and wrote, "We apologize to those who have been served a misleing mess from a fake Lilly account. Our official Twitter account is @LillyP." While US pharmaceutical giant was at fault for misinformation, this incident among several ors undoubtedly raise concerns about Twitter's blue tick policy.

As a result of fake post, Eli Lilly's stock price fell by 4.37 per cent on Friday, resulting in company losing a staggering $15 billion in market cap

Twitter Blue gets suspended as impostors rise & cause havoc

Twitter’s relaunched premium service — which grants blue-check “verification” labels to anyone willing to pay $8 a month — was unavailable on Friday after social media platform was flooded by a wave of imposter accounts it itself h approved. It’s latest whiplash-inducing change to service where uncertainty has become rm since billionaire Elon Musk took control two weeks ago.

Prior to that, blue check was granted to government entities, corporations, celebrities and journalists verified by platform — precisely to prevent impersonation. w, anyone can get one as long as y have a phone, a credit card and $8 a month. Or than Eli Lilly, Nintendo, Lockheed Martin, and Musk’s own companies Tesla and X were also impersonated, as well as accounts of various professional sports and political figures.

(Inputs from AP)