Chinese Video Site Kuaishou Is Struck by Hacker Attack
TL;DR
Kuaishou's shares dropped after hackers posted obscene content on live-streams, prompting a temporary shutdown. The platform has since recovered, with strong recent financial growth and user numbers.
Source: Yicai Global
Shares in Beijing-based Kuaishou Technology tumbled as much as six percent Dec. 23 after hackers flooded several of the Chinese short-video platform’s live-streaming channels with illicit obscene content, sparking public concerns about the website’s security. Kuaishou launched an emergency response by shutting down its live-streaming services. The platform gradually returned to normal. Kuaishou's net profit surged 37 percent in the three months ended Sep. 30 from a year earlier to CNY4.5 billion (USD640.2 million), while revenue soared 14 percent to CNY35.6 billion (USD5.1 billion), according to its latest financial report.The number of average daily active users on Kuaishou reached 416.2 million in the third quarter. Full Story