The data of each of Facebook's 50 million users, stolen in late September, is being sold on the dark web. After the social network announced the discovered vulnerability, the company hastened to officially announce that it had been fixed and that there was no threat to users. However, this data breach was one of the largest in the history of the social network, and now a fresh Facebook user database has appeared on underground online markets.
The vulnerability allowed hackers to “take over” other people’s accounts, and now dozens of lists on the dark web are offering buyers personal data of Facebook users for a nominal fee. Prices range from $3 to $12 depending on the completeness and value of the data. You can only pay with Bitcoin and Bitcoin Cash cryptocurrencies. Given the volume of information leaked from the social network, the value of the stolen information database on the black market is estimated at between $150 million and $600 million.
The stolen information is available on popular dark web markets such as Dream Market, which use a rating system to vet their suppliers, similar to Amazon and eBay. Those who sell Facebook credentials tend to do a good job of verifying the authenticity of the data.
Given the value of the data to cybercriminals, such hacks will continue to be a lucrative business, despite the size and skill of the companies' security teams. Personal data is easily used for blackmail, gaining access to accounts and passwords. Despite the fact that Facebook is speeding up the solution to security problems through the introduction of blockchain technology, the company cannot yet guarantee complete protection of customer data from cyber hackers.
Such a leak of a huge amount of information about citizens is a rather alarming and serious event. It is unknown into whose hands the information will fall and who will be able to use it for blackmail.
The Irish Data Protection Commission (DPC) hastened to open an investigation into the leak of data from users of the social network Facebook. The investigation notice is about examining Facebook's compliance with its obligations under the General Regulations to implement technical and organizational measures to ensure the security and protection of the personal data it processes. If violations are found, Facebook faces a fine of $1.63 billion.
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