March 29, 2024

Jack Dorsey’s Block Suffers Plummeting Share Price Amid Claims It Enabled Fraud, Inflated User Stats

Joe Raedle /Getty Former Twitter CEO Jack Dorsey’s payment processing firm Block suffered a stock price drop of 15 percent this week after claims by Hindenburg Research that the company has facilitated fraud and inflated its user numbers. Researchers were reportedly able to set up a Cash App account in the name of former President

FBI, SEC Join Investigation Into Facebook’s Exploitation Of User Data With Three Other Federal Agencies.

The FBI and the Securities and Exchange Commission (SEC) are reportedly joining the Department of Justice (DOJ) and Federal Trade Commission (FTC) in investigating Facebook over its user management practices. Authorities specifically want to know more about how the now-defunct data analytics firm known as Cambridge Analytica was able to acquire the personal data of […]

Facebook CEO Mark Zuckerberg Breaks Silence, Set For Prime Time Interview Amid User Data Scandal.

Mark Zuckerberg finally broke his silence Wednesday amid a firestorm of criticism surrounding Facebook’s handling of private user data. Zerohedge reported on key aspects of Zuckerberg’s statement: While we repost the full statement below, the following excerpts are key: We have a responsibility to protect your data, and if we can’t then we don’t deserve to […]

Former Employee: ‘Horrifying’ Misuse of User Data Was Routine at Facebook.

Sandy Parakilas, a former Facebook platform operations manager, claimed the company’s “horrifying” misuse of user data was routine, and that Facebook preferred to have “no idea” what third parties were doing with the freely available data. In their report, the Guardian noted that “hundreds of millions of Facebook users are likely to have had their […]

Former Obama Staffer: Facebook Allowed Us To Break User Data Rules Because They Were On Our Side.

Yesterday, Facebook’s stock tanked after it was revealed that they gave user data to a firm, Global Science Research (GSR), via an app. This data was then given to Cambridge Analytica, a firm that was working for Donald J. Trump’s 2016 presidential campaign. The app not only gave GSR the data of the user who […]

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