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Meta fined $102 million for storing passwords in plain text
(www.engadget.com)
This is a most excellent place for technology news and articles.
Considering how old Facebook is…. They probably never bothered to upgrade the authentication system because “if it ain’t broke, don’t fix it” and it didn’t matter to their revenue.
Password hashing has been standard practice far longer than Facebook has existed. Even by 2004's awful, 'archaic' standards.
At the time Facebook was invented, plaintext passwords had been a joke for years.