Finance
Facebook stock price sinks after company admits it was hacked
Photo by Chip Somodevilla/Getty Images
- Facebook shares tumbled Friday after the social-media network disclosed that it was hacked earlier this week.
- The flaw, which was discovered on Tuesday, allowed hackers to access nearly 50 million users’ accounts, Facebook said.
- A Taiwanese hacker, Chang Chi-yuan, announced Wednesday that he found bugs on Facebook and would live stream how to use the flaw and delete CEO Mark Zuckerberg’s Facebook account. He backed down on Friday.
- Watch Facebook shares trade in real time here.
Facebook shares dropped more than 3% Friday after the company disclosed that hackers took advantage of a security issue to attack its systems, impacting almost 50 million accounts.
“Our investigation is still in its early stages,” Facebook’s VP of Product Management Guy Rosen said in a statement, adding that it’s not yet clear who was behind the attack.
“But it’s clear that attackers exploited a vulnerability in Facebook’s code that impacted ‘View As’, a feature that lets people see what their own profile looks like to someone else,” he said. “This allowed them to steal Facebook access tokens which they could then use to take over people’s accounts.”
Shares have been under pressure since Thursday, after a Taiwanese hacker, Chang Chi-yuan, announced that he found bugs in Facebook’s code and would live stream how to use the flaw to delete CEO Mark Zuckerberg’s Facebook account.
“Live streaming the deletion of FB founder Zuck’s account,” Chang posted on his Facebook page on Wednesday, “Scheduled to be live.”
But on Friday, he told Bloomberg that he had canceled his plans and that he would show proof once he received a bounty from Facebook.
Facebook shares are down 10% this year.
Now read:
-
Entertainment6 days ago
‘Only Murders in the Building’ Season 4 ending explained: Who killed Sazz and why?
-
Entertainment5 days ago
When will we have 2024 election results online?
-
Entertainment7 days ago
5 Dyson Supersonic dupes worth the hype in 2024
-
Entertainment4 days ago
Halloween 2024: Weekend debates, obscure memes, and a legacy of racism
-
Entertainment6 days ago
Social media drives toxic fandom. Is there a solution?
-
Entertainment4 days ago
Is ‘The Substance’ streaming? How to watch at home
-
Entertainment4 days ago
M4 MacBook Pro vs. M3 MacBook Pro: What are the differences?
-
Entertainment3 days ago
‘A Real Pain’ review: Jesse Eisenberg and Kieran Culkin charm as odd-couple cousins