The big problem of Kwai last night should be that it was attacked by organized black ash production, which led to a large number of pornographic content in live broadcast rooms. Attackers use automated scripts to register or steal accounts in bulk (about 17000 zombie accounts), bypass real name authentication and verification mechanisms, and simultaneously activate a large number of live streaming push pre stored illegal content. Attackers should have a good understanding of the audit threshold of Internet giants. The so-called audit threshold is that when the illegal content rises exponentially in a short period of time, the AI misjudgment rate will rise, and the processing capacity of the manual audit team hit the bottleneck, which will instantly paralyze. The attacker took advantage of the paralyzed ten minutes to quickly spread the bad content to the local page and recommendation page. The official response was also timely. More than an hour after the launch, the live broadcast portal on the APP home page was urgently removed. This is bold enough. Live broadcast is basically the core revenue source of Kwai. This event should have a significant impact on the short-term trend of Kwai stock prices. Negative public opinion will amplify investors' concerns about the platform's content governance capability, regulatory risk and reputation damage. The tolerance for vulgar content on live streaming/short video platforms in China is extremely low, and similar incidents can easily lead to concerns about user churn and advertisers watching. The final trend should depend on the regulatory department's characterization of this event? If it is a network security incident, Kwai is the victim, and the short-term impact should be reversed soon; If the supervision department believes that the main responsibilities of the Kwai platform are not fully implemented, and does not rule out the risk of interview, rectification and other risks, the impact will continue; Mainly check whether there will be wording such as "management chaos" and "ordering rectification" in official announcements from online communication and public security departments $Kwai