Instagram data violation reports prove that you must ignore Facebook's crypto



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By NCC: Another day, another data leak on Facebook affecting millions of questionable users. Anurag Sen, a security researcher, this time discovered an Amazon Web Services (AWS) public database containing contact information for more than 49 million Instagram accounts, TechCrunch reports. For those who are not aware, Facebook is the monopoly owner of Instagram and social media.

Details of the Instagram data leak

The exposed database includes public information from Instagram accounts, such as the number of followers, likes, and shares of a particular user. More worrisome, though, is the inclusion of the email addresses and phone numbers of many account holders – information that Instagram would have allegedly confidential.

Chtrbox, a social media marketing company, owns the database. As part of the data, the company calculated a net worth for each account using public information and likely made a bid with the contact information obtained in a suspicious manner.

Facebook had little to say on the subject, saying to TechCrunch:

"We are looking into the question of whether the data described – including e-mail addresses and phone numbers – came from Instagram or from other sources."

46 0 days since the last privacy breach on Facebook

This latest edition of Instagram proves that Facebook does not care or know how to protect the privacy of users. Last month, security company UpGaurd revealed that you could find hundreds of millions of private user registrations on Facebook through public third-party databases on Amazon. Sounds familiar?

In the past five years, Facebook has disclosed the confidential information of its users on several occasions. In August 2017, hackers obtained and sold email addresses and phone numbers of about 6 million Instagram users. In September 2018, Facebook's security vulnerabilities allowed malicious parties to collect the personal information of nearly 50 million users. And who could forget the ridiculous debacle of Cambridge Analytica?

Add to this the clear, clear storage of Facebook passwords, and you get a radically different image of the company's new "privacy-centric" brand.

You can not trust Facebook with anything, especially cryptocurrency

The launch of Facebook's crypto is imminent, but the recent data leak quickly reminds us to stay out of the way.

Project Libra, the secret cryptocurrency project of the social media company, has been in preparation for over a year. Initially, a payment system between Whatsapp users, the product has turned into a billion-dollar conglomerate, courting potential investments from payment processors such as Visa and Mastercard.

But even large-scale investments can not help Facebook's anti-privacy image. Since the Cambridge Analytica scandal, the company has seen a drop in job acceptance rates. In addition, the user base of the social media platform follows a similar trend, losing 15 million users since 2017.

Graph showing the use of Facebook from 2008 to 2019

The use of Facebook continues to decline due to constant blunders of privacy. | Source: Edison Research

More than ever, people care about the secret of their characters online. Although Facebook is starting to talk about protecting privacy, it is clear that society is not ready to walk. Facebook's cryptocurrency is already taboo because the company is completely centralized and even the suspicion of another security breach does not help the case of Mark Zuckerberg.

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