Facebook Faces $6 Billion Loss, Scraped Data Issue after the Outage

After the longest than 6 hours outage of Facebook, Messenger, Instagram and WhatsApp, Facebook founder Mark Zuckerberg has apparently lost not only his No.5-richest man rank, but also faces major financial consequences in terms of almost $6 billion loss, according to real-time tracking by Forbes.

Zuckerberg’s now at the sixth position on Forbes’ list of the world’s top billionaires.

Since Forbes list of “today’s winners and losers” tracks from the close of business the previous day, it means that Zuckerberg’s massive losses have clearly occurred since Facebook and other apps users began experiencing technical issues.

During the outage, Facebook shares fell by 4.89% though there was a recovery trend towards the end of the session.

According to the data, other Big Tech names have also seen recent losses- Amazon’s Jeff Bezos and Microsoft’s Bill Gates both lost billions too- as of the time of writing, while the Nasdaq dropped 2.14% and pulled along other major US indices with the Dow Jones seeing a 0.94% drop and the S&P 500 lost 1.3%.

On top of the financial lost, Zuckerberg is also facing privacy data issues after the emergence of a new personal database of 1.5 billion customers put on sale on the dark web that Facebook claims it has nothing to do with the crash.

According the cybersecurity news outlet Privacy Affairs, among the data of more than 1.5 billion Facebook customers that’s up for sale are user IDs, real names, email addresses, phone numbers and locations and the going price for a million names has been quoted as $5,000.

The personal data scraped – obtained from the info that users set to public or allow quizzes or other questionable apps or pages to access- from Facebook platform appears to be authentic and is the biggest and most significant Facebook data dump to date.

Cybersecurity experts point out that while the accounts affected have not been compromised in the strictest sense of the word, the affected users will be at increased risk of getting unsolicited texts, ads, and emails from criminals who obtained the data.

 Privacy Affairs reported that one alleged user claims they had paid the seller for the data, but had received nothing and the seller had not yet responded.

Be the first to comment

Leave a Reply

Your email address will not be published.