Facebook Breach Was Work of Spammers, Not Foreign State: Report
*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).
BiggerPockets Money podcast is now available on Cheddar Wednesdays at 10am ET! Mindy Jensen shares how her podcast is helping people gain financial freedom.
The social video platform's future remains in doubt, as players scramble to profit from the chaos. Plus: Big oil gets bigger, DOGE downsizes, and tariffs!
Ty Young, CEO of Ty J. Young Wealth Management, joins Cheddar to discuss Trump's moves as he returns to Washington D.C. and how it may affect the U.S. economy.
Starbucks’ decision to restrict its restrooms to paying customers has flushed out a wider problem: a patchwork of restroom use policies that varies by state and city. Starbucks announced last week a new code of conduct that says people need to make a purchase if they want to hang out or use the restroom. The coffee chain's policy change for bathroom privileges has left Americans confused and divided over who gets to go and when. The American Restroom Association, a public toilet advocacy group, was among the critics. Rules about restroom access in restaurants vary by state, city and county. The National Retail Federation says private businesses have a right to limit restroom use.
President Donald Trump is talking up a joint venture investing up to $500 billion for infrastructure tied to artificial intelligence by a new partnership formed by OpenAI, Oracle and SoftBank. The new entity, Stargate, will start building out data centers and the electricity generation needed for the further development of the fast-evolving AI in Texas, according to the White House. The initial investment is expected to be $100 billion and could reach five times that sum. While Trump has seized on similar announcements to show that his presidency is boosting the economy, there were already expectations of a massive buildout of data centers and electricity plants needed for the development of AI.
Chris Ruder, Spikeball Founder and CEO, explains how he and his friends put roundnet on the global map, plus, how Spikeball helps people "find their circle."
J.W. Roth, CEO of Venu Holding Corporation, discusses the company's IPO and plans to redefine live music entertainment with their fan founded, fan-owned model.