Adult friend finder data breach
Much of the company's growth without investment capital has been attributed to its affiliate program, with more than 500,000 affiliates to date.
As of January 17, 2010, Friend Finder Networks had a negative net worth equal to 8 million, million in cash on hand and 0 million in liabilities.
The company had also indicated that it lacked existing cash or cash from operations to repay a .5 million debt that was due July 31.
It has cautioned that, unless it can repay or restructure its obligation, it will face “a material deficiency in our short term liquidity.” With these shortfalls in mind, the company again announced an intention to make an initial public offering of stock, representing a 49% stake in the company, with plans to use the proceeds to pay down its debt and become listed on the New York Stock Exchange.
A security researcher known as Revolver claimed to find a flaw in Friend Finder Networks’ security in October, posting the information to a now-suspended Twitter account and threatening to 'leak everything' should the company call the flaw report a hoax." "This is criminal negligence, as it's not the first time," says Stu Sjouerman, CEO of security awareness training company Know Be4, in a statement."Adult Friend Finder has failed to learn from their mistakes and now 412 million people are high-value targets for blackmail, phishing attacks, and other cybercrime.This is ten times worse than the Ashley Madison hack. 15 offers an in-depth look at myths surrounding data defense and how to put business on a more effective security path.This time, email addresses, passwords, dates of last visits, browser information, IP addresses, and site membership status were revealed, reports The Guardian, citing data breach monitoring service Leaked Source.Last year's breach also included users' dates of birth, postal codes, sexual preferences, and whether they were seeking extramarital affairs.