Illinois Man Admits Guilt in Snapchat Phishing Scheme
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 05 2026
0mins
Should l Buy SNAP?
Source: Benzinga
- Phishing Case: Kyle Svara, 26, admitted in federal court to running a phishing scheme impersonating Snapchat support, targeting 571 women and successfully accessing 59 accounts to download unauthorized private images, highlighting significant security vulnerabilities on social media platforms.
- Legal Consequences: Under a plea agreement, prosecutors will recommend a three-year prison sentence for Svara, with sentencing scheduled for May 18, underscoring the severe impact of cybercrime on victims and the legal system's response.
- Coach's Involvement: Svara was hired by former Northeastern University track coach Steve Waithe, who paid about $50 per account for hacking services, revealing potential connections between cybercrime and the sports community, raising public concern.
- Snap Earnings Report: On the same day as Svara's guilty plea, Snap released its fourth-quarter earnings, reporting earnings of 3 cents per share, exceeding expectations, with revenue rising over 10% year-over-year, although daily active users slightly declined, indicating challenges in user growth.
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Analyst Views on SNAP
Wall Street analysts forecast SNAP stock price to rise
28 Analyst Rating
2 Buy
24 Hold
2 Sell
Hold
Current: 4.900
Low
7.00
Averages
9.57
High
13.00
Current: 4.900
Low
7.00
Averages
9.57
High
13.00
About SNAP
Snap Inc. is a technology company. Its flagship product, Snapchat, is a visual messaging application that enhances relationships with friends, family, and the world. Snapchat is the Company's core mobile device application and contains five tabs, complemented by additional tools that function outside the application. Snapchatters can interact with any or all the five tabs. Additionally, it offers Snapchat+, its subscription product that provides subscribers access to exclusive, experimental, and pre-release features. Snapchat+ offers a range of features, from allowing Snapchatters to customize the look and feel of their application, to giving special insights into their friendships. The Company also offers Snapchat for Web, a browser-based product that brings Snapchats calling and messaging capabilities to the Web. Its advertising products include AR Ads and Snap Ads. Snap Ads include Single Image or Video Ads, Story Ads, Collection Ads, Dynamic Ads, Commercials, and Sponsored Snaps.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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