Security

Facebook Buying Stolen Passwords

With close to 1.2 billion users, five new profiles created every second, and average users spending 20 minutes on Facebook, www.facebook.com, alone, it would seem that Facebook would eventually outgrow the number of available of passwords. That assumption couldn’t be further from the truth. What is troubling to cybersecurity experts like myself is that while even eight character passwords can have up to 457 quadrillion possible combinations, users continue to reuse the same passwords at an alarming rate. Password reuse always makes the job of a hacker infinitely easier. Instead of using brute force guessing attacks that can take hours, days, and even months, hackers can simply apply every cracked password they come upon first, saving them years of potential hacking. So why is Facebook getting in on this lucrative password black market? Facebook Is Buying Your Passwords from Hackers Facebook’s Chief Security Officer Alex Stamos, speaking at the Web Summit in Lisbon, revealed how the social network giant regularly buys stolen passwords on the Dark Web, a portion of the Internet that is not indexed by standard search engines and generally attributed to hacking and illegal cyber activities. According to Stamos, password reuse is the number No.1  cause of harm on the Internet.   “The reuse of passwords is
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By | 2016-12-05T18:48:47+00:00 11/17/2016|

3 Comments

  1. Scott Schober 01/17/2017 at 9:01 pm - Reply

    Thanks for your feedback. You raise some good points. I share some further thoughts on this in a recent video post:

    Facebook Admits To Buying Stolen Passwords On Dark Web https://youtu.be/RR-2lS-sM74

    Scott
    http://www.hackedagain.com

  2. Shava Nerad 01/14/2017 at 11:44 pm - Reply

    It’s worth pondering that by paying out a bounty, and not providing further security or education to users, Facebook’s Stamos is incenting these black hat hackers to accelerate predatory hacking on his own users.

    I find this something of a crime against his charge to protect the privacy and security of the average Facebook user but let’s face it: this is Facebook.

    So long as big data does not see a threat against revenues (their real clients being advertisers and RMT game companies) the social media users they attract as a honeypot only need to be minimally served as the aphids on the rose.

    So long as Zuch’s busy ants gather plenty of honeydew, the well-being of individual aphids is not a great concern.

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