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Avast Blog_Security News: Facebook’s cryptocurrency plans set off alarms
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Also, researchers find open online database of 150,000 user responses to questionnaires about medical malpractice and military combat injuries

Will Libra tip the scales?

Facebook announced recently that it is developing a cryptocurrency called Libra with various corporate partners such as Uber, Visa, Mastercard, and PayPal, according to the Associated Press. World finance leaders have expressed strong concerns. French Finance Minister Bruno Le Maire insisted that only governments could issue sovereign currency, the AP reported. Facebook plans to launch Libra early next year, though the head of the U.S. House Financial Services Committee wants Facebook to suspend plans until Congress and regulators are able to study them.

The announcement stirs up a host of regulation questions and privacy issues. Social media and cryptocurrency are both only lightly regulated, and financial experts predict Facebook is in for a rude awakening when the company realizes the level of regulation required to launch a new currency.

This week’s stat

In the Internet of Things, 100 companies make more than 90% of devices and 400 companies account for 99%, new research from Avast and Stanford University has found.

Ad agency leaks malpractice and combat injury data

Cybersecurity researchers found an open online database containing more than 150,000 user responses to questionnaires about medical malpractice and military combat injuries. Discovered without password protection, the sensitive information was accessible for anyone to download. The data belonged to X Social Media, an ad agency specializing in “medical malpractice lawsuits and injury-related class-action lawsuits,” according to ZDNet. X Social Media ran ad campaigns on Facebook and Instagram directing potential clients to websites where they would fill out and submit the questionnaires. The exposed information included full names, email addresses, home addresses, phone numbers, and details related to their cases.

In addition to sensitive medical information about individual users, the database also contains internal company records such as client contacts, invoices, and even campaign metrics. Upon finding the database, researchers immediately contacted X Social Media. Nine days later, the company closed access to the information. It is unknown if any unauthorized users accessed the data while it was exposed. The delay in locking down the data is alarming, said Avast Security Evangelist Luis Corrons, “What really strikes me in this case is that it took them nine days after they were notified to solve the issue, when it should be a matter of minutes.” he said.
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