*By Carlo Versano* The worst data breach in Facebook's history was likely executed by spammers, not a foreign state, according to a [report](https://www.wsj.com/articles/facebook-tentatively-concludes-recent-hack-was-perpetrated-by-spammers-1539821869) in the Wall Street Journal. The hack, in which 30 million user accounts were made vulnerable, appeared to be the result of a group of hackers known to Facebook's ($FB) security team. The company has been investigating the matter since discovering the attack in late September. Initially, there was concern that the hackers gained access to user accounts through a manipulation of digital tokens, bearing the hallmarks of a coordinated attack from a nation-state. But Facebook's internal review now suggests the hackers were more interested in making money through deceptive advertising than promoting any ideological affiliation. Whether that's any comfort to the tens of millions of people whose personal information ー including names, emails, religious affiliations, and locations ー was accessed in the wide-ranging attack remains to be seen. Facebook is under enormous pressure, both internally and externally, to shore up its security systems in the wake of the Cambridge Analytica scandal. It also faces ongoing scrutiny over its handling of the Russian misinformation campaign during the 2016 U.S. election. This week, a group of investment funds with stakes in the company backed a proposal to remove Mark Zuckerberg from his chairman role. But because of Facebook's dual class share structure ー in which the CEO controls 60 percent of voting rights ー it's "able to quite easily swat away investor proposals like the one we're discussing," Jake Kanter, UK executive editor at Business Insider, told Cheddar. So while the proposal may be dead on arrival, it represents another black eye in the media for the beleaguered social giant ー which was the point all along, according to Kanter. Facebook investors unhappy with the company's corporate governance have few options other than making noise in the press and hoping "Mark Zuckerberg sits up at takes notice." But in the end, Kanter said, "the only person who can fire Mark Zuckerberg is Mark Zuckerberg." For full interview [click here](https://cheddar.com/videos/some-facebook-investors-want-to-take-down-zuckerberg).

Share:
More In Business
Fed Set to Launch Digital Payments System Over the Summer
The Federal Reserve on Wednesday evening said its long-awaited digital payment system, the FedNow Service, will start operating in July. The service is designed to provide a national platform for financial institutions to settle payments in real-time and at lower cost. That could include large banks, payment processors, and the U.S. Treasury.
Cereal Giant Kellogg Is Set to Rename Snack Business 'Kellanova'
Kellogg announced last year that it was splitting into two companies, one focused on snacks and the other on cereal. Now it's revealed what those new companies will be called. The cereal business will retain the name Kellogg's, while the snack business will be called Kellanova.
Load More