In that case the suspects could be the ones buying it after it dropped $1, since it went up afterward.
As long as securities react to hacks, there will be a massive incentive to 1) hack, and 2) overstate the hack's significance. Furthermore, as bots become more sophisticated, confusing them becomes easier. If you know bots will short CompanyX when "CompanyX hacked" hits the headlines, then you have an unfair advantage just by being the first to know of the hack.