Financial Impact
- Social media hacking costs the global economy over $2 billion annually.
- An average social media hacking incident can cause a company up to $200,000 in damages.
- 70% of social media hackers are financially motivated.
Growth and Prevalence
- Social media hacking incidents have increased by 27% from 2020 to 2022.
- The use of bots in social media hacking has increased by 33% in the past 3 years.
- Fake social media accounts used for hacking purposes have increased by 26% since 2021.
Targets and Victims
- Instagram accounts are the most targeted, accounting for 27% of social media hacks.
- 25% of social media hacking attempts targeted large corporations.
- 40% of social media accounts are hacked through third-party applications.
- 64% of victims were unable to regain access to their accounts within 48 hours.
- 56% of companies worldwide have experienced social media hacking at least once.
- 92% of users have experienced or know someone who has experienced hacking.
Techniques and Tactics
- Phishing attacks account for 45% of all social media hacking incidents.
- 21% of social media hacking incidents involve compromised passwords.
- Only 8% of users utilize two-factor authentication for protection.
- 67% of victims hadn’t updated their passwords in the last six months.
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Platform-Specific Statistics
- Twitter accounted for 16% of all social media hacking incidents in 2022.
- LinkedIn accounts constitute 12% of social media hacking incidents.
- Social media hacking has resulted in 62 million compromised accounts in 2021.
Reporting and Awareness
- 80% of social media hacking incidents are never reported to law enforcement.
