Meta fined $102 million for storing passwords in plain text
Meta fined $102 million for storing passwords in plain text
The Irish Data Protection Commission (DPC) has fined Meta €91 million for a 2019 incident wherein the company stored millions of Facebook and Instagram passwords in plain text.
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Meta's revenue is in the tens of billions. This fine isn't even a rounding error for them. This isn't something that should be taken so lightly.
Have you seen IT budgets? Some vice-president of technology is going to be pissed his numbers look bad compared to his peers during their weekly numbers measuring contest.
Its about $2.6 billion per week in revenue, even by the weekly numbers its not an impact
(based on ~$135b in revenue for 2023, according to financial disclosure reports)
😱
Yeah that was just a cost of business. Zuck probably pulled that from under his couch.