Photo: Omar Marques/SOPA Images/LightRocket via Getty Images

Instagram users are being blocked from logging in, only to find later their accounts have been hacked and their credentials often newly linked with a Russian email ending in .ru.

What’s happening: Instagram is investigating the hacking claims following a spike in reports, but doesn’t know whether these are actually Russians hacking or whether it's just someone using a Russian email. Instagram is currently helping customers regain access to their accounts and working to roll out its own third-party app authentication.

Yes, but: But some accounts getting hacked already had two-factor authentication (2FA) in place, per The Sun, which is a security feature intended to add an extra step to block potential hackers

The key is, not every 2FA is made equal. Using SMS as the second step — like how Instagram's currently works — can be vulnerable. SMS 2FA is not as secure as using physical, hardware-based keys. Google hasn’t had any of its more than 85,000 employees phished on work-related accounts since implementing physical key use in early 2017, according to KrebsOnSecurity.

By the numbers: Kaspersky Lab products prevented approximately 68,000 attempts to visit phishing pages imitating Instagram this year. And in July, Kaspersky "witnessed a spike in this attack vector — on July 31, the number of phishing attacks skyrocketed from around 150 per day to almost 600," per Kaspersky.

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Stocks close down more than 3%

Photo: Alexi Rosenfeld via Getty Images

Stocks took a hit on Wednesday, with the S&P 500, Dow Jones Industrials Average and Nasdaq dropping more than 3% across the board.

Why it matters: The volatility is a break from the stock market grinding higher in the face of spiking coronavirus cases, a stalling economy and gridlocked negotiations over an additional stimulus package.

Zeta, now a Category 2 Hurricane, closes in on Louisiana coast

The probable path of Zeta, per the National Hurricane Center. Photo: NHC/NOAA

Zeta strengthened on Wednesday afternoon, on track to make landfall along the southeastern coast of Louisiana by the afternoon as a "significant" Category 2 hurricane, per the National Hurricane Center.

The state of play: Zeta is producing 100-mph maximum sustained winds and stronger gusts. The storm is gaining strength as it heads northeastward at 20 mph. Louisiana Gov. John Bel Edwards (D) requested a pre-landfall Emergency Declaration in a letter to President Trump on Tuesday.