An investigative report by New York regulators revealed that several high-profile Twitter accounts were hijacked this summer using only basic social engineering techniques because Twitter has poor internal security controls. The regulators recommended creating an oversight council with a qualified regulator to monitor and supervise popular social media platforms' security practices. This report may foreshadow more government scrutiny of social media, but also is a reminder to everyone that social media accounts are easy to hijack for nefarious purposes.