The social media platform X faced widespread outages on March 10, with thousands of users struggling to access the site. Elon Musk, the platform’s owner, confirmed that the disruption was caused by a significant cyberattack.
Large-Scale Cyberattack on X
Musk revealed that while X faces daily cyber threats, this attack was particularly intense and well-resourced. He suggested that either a highly organized group or even a nation-state could be responsible.
Although user access was restored quickly, Musk hinted that the attack was still ongoing. According to Downdetector, over 33,000 outage reports were logged on March 10.
Musk’s confirmation of the attack came in response to a social media post discussing various recent attacks on his business ventures. This included acts of vandalism against Tesla stores, which some speculate are linked to Musk’s previous involvement in the Trump administration.
DOGE Expands Cost-Cutting Initiatives
Following Donald Trump’s presidential victory in November, he appointed Musk to lead the Department of Government Efficiency (DOGE), an initiative focused on reducing wasteful government spending.
According to a live tracker, DOGE has reportedly saved $105 billion in taxpayer funds across 10,492 initiatives. The department is now targeting the Securities and Exchange Commission (SEC), inviting the public to submit instances of “waste, fraud, and abuse” within the agency.
Musk has long been critical of the SEC, calling it a “totally broken organization” that misallocates its resources. Under Trump’s administration, the SEC’s approach to regulation is expected to shift significantly. The Harvard Law School Forum on Corporate Governance suggests that the agency will likely roll back policies implemented under former Chair Gary Gensler, easing regulatory burdens to promote capital formation.
