Kuaishou-W Stock Plummets at Opening, Ranks Second on Apple's Free App List After Cyberattack

Deep News10:22

Kuaishou-W (1024.HK) saw its stock price plunge at the opening of Hong Kong trading on December 23. As of press time, the stock was down 5.7% to HK$62.9. Meanwhile, the cybersecurity index (884133.W) rose 0.66%.

The decline followed reports of multiple live streams featuring inappropriate content on Kuaishou's platform around 10 PM on December 22. The company confirmed it was targeted by a black/gray industry cyberattack and has initiated emergency repairs. Kuaishou stated it firmly opposes such content and has reported the incident to relevant authorities while filing a police report. Despite the attack, Kuaishou surged to second place on Apple's App Store free download rankings.

Between 10 PM and 11:30 PM on December 22, the platform experienced peak levels of inappropriate live streams. Around 12:15 AM on December 23, Kuaishou forcibly disabled live streaming functionality and banned some accounts.

Security expert Wang Liejun noted that the attack's widespread impact stems from black/gray industry actors adopting automated tools for bulk account registration and bot control, enabling rapid dissemination of prohibited content that overwhelms manual review systems. Traditional human moderation struggles with such scale, often failing to keep pace with the flood of violations.

Kuaishou has not yet detailed the cause of the incident. The company's privacy protection platform outlines a three-tier security framework comprising decision-making, operational, and departmental layers to safeguard information security. This includes specialized privacy protection teams working with business units to protect user data.

Technologically, Kuaishou employs industry-standard measures like intrusion detection/prevention systems, access controls, data encryption (including TLS and QUIC protocols), and monitoring tools (WAF, HIDS, APT, security audit platforms) to protect its hundreds of millions of users. The company follows least-privilege access principles and maintains a dedicated "blue team" to continuously identify and address security vulnerabilities.

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