Facebook is no stranger to data leaks and leaks, as the company has been exposed to many high-profile security breaches in recent years. For example, in 2018, the social media giant revealed that it inadvertently revealed personal information to over 50 million users due to a simple system code error that allowed attackers to access their accounts.

Similarly, in 2020, the company led by Mark Zuckerberg found itself in another major controversy when it was revealed that thousands of developers had access to data from inactive users of the platform, which triggered unrest for many people around the world.

Now, in 2021, the sheer power of technology has once again been hit by a new wave of data breaches, but this time the number of users whose records were exposed was not 50 million, but 500 million. On April 3, Alon Gal, chief technology officer at security firm Hudson Rock, revealed that the sensitive personal information of more than half a billion Facebook users had been leaked to a highly-visited hacker forum.

To be more specific, the records include phone numbers, full names, locations, birthdays, biographies and, in some cases, email addresses of over 553 million users in 100 countries. Not only that, from the mentioned number, it turns out that 32 million users are from the United States and 11 million are from the United Kingdom.

Finally, this data, which is now spreading across the Internet, could threaten the savings of millions of cryptocurrency traders and inventors, who may now be vulnerable to SIM swaps and other identity-based attacks in recent years.

What to do?
How does this latest breach pinpoint people’s cryptoassets? Dave Jevans, CEO of blockchain security firm CipherTrace, told Cointelegraph that people whose phone numbers have been lost must be extremely careful, as many digital asset fraudsters rely on such information and add:

“We have seen an increase in SIM exchanges, phishing attacks and other types of cryptocurrency scams that rely on the victims’ phone numbers to carry them out. The leaked identities of known crypto users gave attackers an opportunity to target them. ”
He added that people who believe that their cryptocurrency may have some risk should reconsider their current privacy strategies – in fact, think twice before storing all their assets on a central exchange that can use a two-factor authentication user phone number.

Jevans also claimed that managing private keys may be the best way to protect our valuables from phishing attacks with stolen phone numbers. However, he acknowledged that doing so was not enough. He added: “Phishing attackers can still use other means to obtain information about accounts and addresses, but this is much more difficult.”

Ben Digels, co-founder and CEO of Revenue for Constellation – a scalable blockchain that sets the standard for data security during transportation – presented to provide insight into the issue, he told Cointelegraph that Facebook’s latest security blank is no surprise. , especially since most users are social media users, they tend to follow a different mindset, that is, they like to manage and organize their world for their own sake.

He added that for most users, if they forget their passwords, they will only be able to reset the system for them. Not only that, from Diggle’s point of view, most people who use Facebook are not fully aware of the size of their digital footprint – an aspect that Facebook does not clarify either – and adds:

“These cryptocurrency holders who were on the list have nothing to worry about as long as they do not store descriptive data about their property and do not have access to their Facebook accounts. However, these hackers have become very sophisticated, so I have no idea what tricks they can have. [Self] sleeves when it comes to excluding information about wallets and exchanges for cryptocurrencies. ”
But as a precaution, it is believed that it would be better for most users to change their passwords on all their social media accounts, as well as other platforms that share their data with Facebook.

Is decentralization important?
As more and more data breaches continue to be realized, more and more people around the world are becoming aware of the security value of the offer presented by decentralized systems, especially since they do not contain a single point of error.

Source: CoinTelegraph