Detailed info of 14m Facebook accounts now in the hands of hackers
Facebook is about to be making a $1.4 billion apology to you.
Though you won’t see any of this money landing in your pockets, it might prevent Facebook from taking you and your information for granted.
The social media giant has been doing a great deal of apologizing as of late but does not seem to be acting sincerely towards making amends.
Ever since the Cambridge Analytica scandal earlier this year, Facebook has been under the scrutiny of the world, and they’ve been apologizing ever since.
“This was a breach of trust, and I’m sorry we didn’t do more at the time. We’re now taking steps to ensure this doesn’t happen again,” a statement by founder Mark Zuckerberg had appeared in several international newspapers back in March.
Fast-forward 7 months and Facebook is on the defensive once again, having seemingly learned nothing from being questioned at Congress.
They have submitted yet another apology, this time courtesy of their Vice President of Product Management, Guy Rosen, as this next bit of news is huge.
14 million people significantly affected
Facebook’s security update states that of the 50 million people whose access tokens they believed were affected, about 30 million actually had their tokens stolen.
Good news, right? Not really.
From those 30 million whose access tokens had been illegally acquired, 15 million had some information stolen. This included their name, phone number, email, or both, depending on what people had on their profiles.
The other 14 million, however, weren’t as lucky.
Facebook reveals the following: “For 14 million people, the attackers accessed the same two sets of information, as well as other details people had on their profiles. This included username, gender, locale/language, relationship status, religion, hometown, self-reported current city, birthdate, device types used to access Facebook, education, work, the last 10 places they checked into or were tagged in, website, people or Pages they follow, and the 15 most recent searches.”
That is a whole lot of information to steal. As more is revealed, we could find out that the cybercriminals got their hands on even more personal info.
Out of the 30 million, 1 million were lucky. The hackers did not access the information of these users.
How long till Facebook is “sorry” again?
Currently, the FBI is still investigating. They have asked Facebook not to disclose any information on the hackers’ motives so as not to jeopardize their investigation.
As Facebook continues their own investigation, we could find out that more information has been stolen, though it does seem that this might the furthest extent to this breach. Facebook had said that there’s no need to reset account passwords, but that’s if their estimates are accurate, which is highly doubtable at this point.
How many PR disasters can Facebook withstand before it caves in under its own incompetence? No amount of apologies will right these wrongs, whether they’re as genuine as they’re made to seem or not.
The Irish Data Protection Commission (DPC), which regulates Facebook’s data affairs in Europe, has officially opened an investigation into the social media giant. If Facebook is found to have broken GDPR law, the company could be fined a maximum of $1.63 billion, 4% of annual global turnover, CNBC noted.
October 11 saw the company’s lowest share price in the entirety of 2018, dropping slightly below share value’s lowest point during the Cambridge Analytica scandal in March. Since the 11th, their stock has been making a very minuscule bump.
The company’s stock has been undergoing a rollercoaster throughout the year. Facebook’s stock dropped 20% in July following a weak earnings report, losing approximately $120 billion in value.
Given the loss in market value, and eroding public opinion, Facebook cannot afford another scandal.
“Sorry” just won’t cut it.