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New Facebook data leak is not going to help get Libra over the line

New Facebook data leak is not going to help get Libra over the line
Rajan Dhall, MSTARajan Dhall, MSTAFX Daily
There are reports of another data scandal for Facebook. It has been said that hundreds of millions of phone numbers linked to Facebook accounts have been found online.
 
Techcrunch.com reported - The exposed server contained more than 419 million records over several databases on users across geographies, including 133 million records on U.S.-based Facebook users, 18 million records of users in the U.K., and another with more than 50 million records on users in Vietnam.
 
Apparently, the server wasn’t protected with a password, so this means anyone could find and access the database. Each record contained the user’s unique Facebook ID and phone number listed on the account. This could mean it might be easier to hack and take over accounts.
 
There has been much scrutiny from central banks and governments after Facebook announced the launch of their cryptocurrency (Libra). Recently US delegates travelled to Switzerland to meet with regulators who potentially could be in charge of regulating the new currency. It was said that the documents Facebook provided were to "vague" and both sides needed more information. 
 
Now with this new developing story, there is sure to be some backlash from Libra sceptics.

Author

Rajan Dhall, MSTA

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

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