Facebook Inc., (NASDAQ:FB) has no plans to reward the hacker, despite admitting flaw in its security and administrative side

Denver, CO, 08/21/2013 (Avauncer.com) – Shares of Facebook Inc., (NASDAQ:FB) were up 0.57% to trade at $38.63. Therefore, shares remained at the late end of its 52-week price range of $17.55 to $39.32. However, Close to 5.62M shares have exchanged hands in current session, against its average volume of 71.71 million shares.

The company has gone back on its words to reward White Hat Hacker’s Bug report. A hacker from Palestine recently pointed to a security flaw in the profile of the social networking site founder Mark Zuckerberg’s profile itself. While on one hand the company promises to reward those who found security gaps, it was offended when Khalil Shreateh, a Palestinian researcher went beyond his limits to reorganize the information on Zuckerberg’s own profile page. He has thereby pointed to a way whereby one user could avoid the Facebook security settings to modify another user’s timeline. This seems to be a major flaw in the security setup of Facebook.

The hacker declared that he took the bizarre step of hacking into Zuckerberg’s profile itself, despite being disregarded by the Facebook security team. As per the post by the hacker, it read that he had no other option after he sent all reports to Facebook team. He even went to the extent of adding his name in the post. This seems that there was no deliberate intention to sabotage the profile of the founder.

The reward which the hacker got was getting his Facebook account disabled. The company reasons out that such act had violated their Terms of Service. The company stated that it would be grateful for the help the security team would be getting out of this, but it was not in favor of hacking into user account.

The company admits that this has been a flaw in the administrative setup of the company as well, to have mis - communicated by not taking report bugs from the hacker, who then went on to post on user’s profile.