Just days after the Facebook data breach, investigations were going on to find the severity of the attack along with the motive. Recently, Facebook released a statement and concluded that the spammers only hacked into users account in the quest of making money. The social media giant also added that a nation-state wasn’t behind this data theft. The Wall Street Journal reported this on Wednesday.
In addition to this, the Wall Street Journal added that the people who were behind this attack were actually a group of Facebook and Instagram spammers who portrayed themselves as the digital marketing company. Facebook’s security team was previously monitoring Their activities and the internal investigation would be done on the same.
Last week, Facebook announced that cyber attackers had stolen data from 29 million Facebook user accounts with the help of an automated program. This program had the ability to spread attacks from one friend to another, which resulted in hacking user data from about 50 million user accounts.
In an email to Reuters, Facebook added that they have been cooperating with the Federal Bureau of Investigation to find out more and take serious action against the culprits.
Cybersecurity experts and financial analysts said- “The consequences of this data breach include users becoming vulnerable to targeted phishing attacks, increased uneasiness in posting to a service because its privacy, moderation, and security practices have been questioned many times due to the number of scandals.”
Initially, Facebook disclosed regarding the data breach during the end of September and assured that the issue had been fixed right after it was discovered on September 25. They also added that an internal investigation was being conducted with regards to the incident and the consequences were reduction in number of affected users of the data breach.
Facebook also notified regarding the same to the FBI, Department of Homeland Security, Congressional aides and the Data Protection Commission in Ireland, where the company has its European headquarters.