Facebook’s Big Data Breach Could Cost It Over $1 Billion

Facebook hackers got access to your Tinder Spotify Instagram Messenger and Airbnb too

The breach, which Facebook has said affected 50 million of its users, would have allowed hackers to log in as those people on Facebook and on apps and websites that allow SSO though Facebook.

Facebook announced Friday that up to 50 million accounts were breached in a security flaw exploited by hackers.

Facebook has said the attack was highly sophisticated, their response is in its early stages, and they may never know who was behind it. Julian Knight, a committee member, said: "It would be helpful to hear from Mr Zuckerberg, but I won't be holding my breath".

Under Europe's recently introduced General Data Protection Regulation (GDPR) law, companies that fail to do enough to protect their customers' data face a maximum fine of $23 million, or 4 percent of their global revenue for the prior year, which is where the $1.63 billion figure comes from.

Tinder, Airbnb, and Spotify - perhaps three of the highest-profile tech companies to use Facebook's login service - did not immediately respond to Business Insider's request for comment. Several Facebook users (including the author of this story) noticed the odd occurrence this morning and posted to social media wondering what happened.

Although Facebook says it has fixed the issue that resulted in the breach, it still has little to no information to provide on who is behind the attack or when the attack even occurred.

Facebook has not said whether the attackers attempted to extract data from the affected profiles, but vice president of product management Guy Rosen told reporters they had attempted to harvest private information from Facebook's systems, according to the New York Times.

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The social network's lead supervisory authority in the region, the Irish Data Protection Commission (DPC), tweeted an update on Sunday that it is "awaiting from Facebook further urgent details of the security breach impacting some 50m users, including details of European Union users which have been affected, so that we can properly assess the nature of the breach and risk to users".

"Users are not required to change their passwords, but people looking to log out of all the various places they're logged into their accounts can do so with a single click through the Security and Login section under the settings menu". The company also has reset access tokens for the affected accounts and another 40 million accounts that have have used the "View As" feature in the past year.

But last June, Facebook added a new video uploader tool that introduced a major bug.

Neither passwords or credit card information were taken, Rosen said.

But a new revelation might further widen the impact of the security breach.

Facebook has more than two billion users worldwide.

Anyway, Facebook has since now patched the vulnerabilities and revoked the affected access tokens that were stolen by hackers. The hackers also tried accessing profile information such as name, gender, location and photos from compromised accounts.

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