Meta Fined $100M For Storing Over Half A Billion Passwords In Plaintext: Mark Zuckerberg-Led Company Reportedly Had 2000 Employees Querying Them 9M Times
Portfolio Pulse from Rounak Jain
Meta Platforms Inc. (NASDAQ:META) has been fined €91 million ($101.5 million) by Ireland's Data Protection Commission for a 2019 security breach involving the storage of over 600 million user passwords in plaintext. This incident highlights ongoing privacy compliance issues for Meta, which has faced multiple GDPR penalties over the years.
September 28, 2024 | 6:32 am
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Meta Platforms Inc. has been fined €91 million for a 2019 security breach involving plaintext storage of user passwords. This adds to Meta's history of GDPR penalties, highlighting ongoing privacy compliance issues.
The €91 million fine is a significant penalty for Meta, reflecting serious security lapses. This incident adds to a series of GDPR-related fines, indicating persistent compliance challenges. Such regulatory actions can negatively impact investor sentiment and the company's stock price in the short term.
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