There is a ‘massive cyberattack against X’

The X social media platform has been hit with a “massive cyberattack” that has prevented some users from accessing the site, platform owner Elon Musk confirmed on March 10.

“We get attacked every day, but this was done with a lot of resources. Either a large, coordinated group and/or a country is involved,” Musk said.

Although user functionality was quickly restored, Musk implied that the attack was still ongoing.

At the time of writing, there were more than 33,000 reports of X outages on March 10, according to Downdetector.

Musk confirmed the cyberattack in response to a social media user who detailed a series of attacks against the entrepreneur’s interests, from protests against the Department of Government Efficiency (DOGE) to vandalism of Tesla stores.

As NBC News reported, there have been at least 10 acts of vandalism against Tesla stores and vehicles, likely in response to the billionaire entrepreneur’s involvement in the Trump White House.

Related: US Department of Government Efficiency slapped with more lawsuits

DOGE expands cost-cutting measures

Shortly after winning the November presidential election, Donald Trump appointed Musk to head the Department of Government Efficiency with the mandate of reducing wasteful government spending. 

So far, Musk’s DOGE claims to have saved $105 billion in taxpayer dollars across 10,492 initiatives, according to a live tracker. 

DOGE reportedly has its sights set on the Securities and Exchange Commission (SEC) and has even called on the public to provide examples of “waste, fraud and abuse” at the agency. 

Musk previously described the SEC as a “totally broken organization” that, instead of prosecuting real criminals, misallocates its resources on things that don’t matter.

With regard to crypto, the SEC’s mandate under President Trump has changed dramatically. 

According to the Harvard Law School Forum on Corporate Governance, “We should expect the SEC under the second Trump administration to scale back rulemakings adopted under the Biden administration and former Chair Gary Gensler that many viewed as increasing impediments to one of the SEC’s core missions of capital formation.”

Magazine: Legal issues surround the FBI’s creation of fake crypto tokens

This is a developing story, and further information will be added as it becomes available.