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A fake tweet sparked panic at Eli Lilly and may have cost Twitter millions

The pharmaceutical giant halted ad spending after fake blue-check accounts went viral. For $8, Twitter is ‘losing out on millions of dollars in ad revenue,’ a former Eli Lilly official said.

November 14, 2022 at 6:00 a.m. EST
Eli Lilly and Co. corporate headquarters in Indianapolis. (Darron Cummings/AP)
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The nine-word tweet was sent Thursday afternoon from an account using the name and logo of the pharmaceutical giant Eli Lilly and Co., and it immediately attracted a giant response: “We are excited to announce insulin is free now.”

The tweet carried a blue “verified” check mark, a badge that Twitter had used for years to signal an account’s authenticity — and that Twitter’s new billionaire owner, Elon Musk, had, while declaring “power to the people!” suddenly opened to anyone, regardless of their identity, as long as they paid $8.