Binance Hit by Major Network Hack; Meta admits that up to one million Facebook passwords have been stolen
In Today’s ExchangeWire News Roundup: Binance Loses Up to $500 Million (~£450.5 million) to hackers; a new report from Meta reveals that up to a million Facebook passwords may have been stolen; and a financial report from ByteDance shows that the company experienced significant operating losses last year.
Binance loses up to half a billion dollars to hackers
Cryptocurrency giant Binance may have lost as much as USD$500m (~£450.5 million) after a big hack. The company suspended cryptocurrency transactions after discovering digital theft in its network on Friday (October 7).
Binance CEO Changpeng Zhao sought to reassure users by tweeting, “The problem is contained now. Your money is safe. We apologize for the inconvenience and will provide further updates accordingly.”
Up to one million Facebook users’ passwords stolen by malware
A report from Meta has revealed that as many as one million Facebook users may have had their passwords stolen of malware disguised as various types of apps, including image editors, mobile games and health trackers.
Meta’s Director of Threat Interruption David Agranovich said the company believes the attack was “an attempt to gain access to as many login credentials as possible.” Agranovich added that the company would alert users who had been exposed to the malware, although the firm could not confirm whether all exposed users were infected.
The operating loss tripled in ByteDance in 2021
ByteDance Ltd. saw operating losses rise to over $7bn (~£6.3bn) in 2021, according to an internal financial report from the company. The report, which provided a rare insight into its TikTok parent’s finances, detailed ByteDance’s finances from Q1 2020 to Q1 2022, showing the company posted an operating profit in the first quarter of this year.
This week’s industry issue comes from The Women in Programmatic Network’s Emily Roberts, who asked:
Which of the following should all actors in the advertising industry prioritize in order to operate more sustainably and benefit the planet?
– Measure ad campaign emissions
– Reduce international travel
– Limit energy use in the office
– Influence consumers positively
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5% – the percentage of US adults who have a very favorable view of Meta.
Last week’s technology teasers
Challenge yourself on ad tech, martech, media and commerce by signing up to The Stack, where we publish a new quiz every Friday.
Our latest series of teasers focused on controversial billionaire Elon Musk. How well do you know the Tesla CEO? Find out below:
- Zip2 – Elon Musk’s first business venture in 1995 💼
- 245 – the number of miles Tesla’s first electric vehicle, the Roadster, could drive on a single charge 🏎️
- Wario – the video game character Musk dressed as during his appearance on Saturday Night Live 🕹️
- US$1.5 billion (£1.3 billion) – the amount eBay bought Musk’s fintech venture PayPal for in 2002 💰
- 6% – the amount of Tesla shares fell after Musk smoked marijuana The Joe Rogan Experience 📉