Facebook Could Face $1.63 Billion Fine Over Latest Hack Under GDPR

Figurines are seen in front of the Facebook logo in this illustration

Facebook said they have reset the access token to nearly 50 million accounts that they know were affected by the breach. The Facebook users have been suggested, in this matter, in view of recent reports that access tokens of 5 Crore users have been stolen by hackers.

Life just got worse for the 50 million people caught up in what may be the biggest hack of Facebook ever.

Officials in Washington have moved to hold Facebook accountable, while officials in Europe are demanding that Facebook be more transparent about what is really going on concerning the extent of the latest data breach.

To deal with the issue, Facebook reset some logins, so 90 million people have been logged out and will have to log in again.

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A breakdown of how Facebook spotted the breach is available in this ZDNet article, here.

Facebook said it had fixed the vulnerability and also informed law enforcement agencies. As such, the social media platform is facing a class-action lawsuit.

Next up is the waiting game, as Facebook continues its investigation and users scan for notifications that their accounts were targeted by the hackers.

This let them use your Facebook account "as if they were the account holder" - a shocking security breach.

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According to a copy of the complaint obtained by ZDNet, the two argue that Facebook failed to protect their data, which, according to a Facebook official statement published hours before their filing, was harvested by yet-to-be-identified hackers exploiting a combination of three bugs in Facebook's source code. "Complex attacks have many moving parts that often appear as individual, subtle anomalies hiding within the noise of the network", argued Darktrace APAC managing director, Sanjay Aurora. It also covers Facebook users located within the European Union, meaning it exposes the company to fines under the General Data Protection Regulation (GDPR) of up to four percent of its annual global turnover - £1.25 billion, based on its 2017 figures. In India, Facebook's single sign-on feature allows users to log into thirdparty apps such as Swiggy, Zomato, BigBasket, Hotstar, Tinder, Nykaa, SonyLIV, RentoMojo, FreshMenu, Chai Point, Quora, Snapchat, HealthifyMe, and Dominos, without creating a unique profile for each one. The security tokens are like the virtual keys that let you stay logged into your Facebook account without having to enter the password every time you use the app.

Second, any accounts on other platforms that use Facebook verification are also at risk. "Once logged in, the attackers could take control". "Zuckerberg and Chief Operating Officer Sheryl Sandberg have testified before Congress on steps the company is taking to protect the privacy of its 2.23 billion monthly active users". That political consulting firm told Facebook it had deleted the information, but it hadn't.

It's clearly not been a very good year for Facebook.

The hackers were able to exploit this vulnerability to gain access to the security tokens. He subsequently attempted to backpedal from his comments, which did not impress most of the leftist billionaire's critics.

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