One such ethical researcher,Anand Prakashhas hit a jackpot with hacking Facebook.

The vulnerability which Prakash found, resides in the way Facebooks beta pages handle Forgot Password requests.

Prakash decided to test the vulnerability in Facebooks Forgot Password mechanism.

Facebook Password reset vulnerability allowed hackers to hijack any FB account

Facebook immediately acknowledged the severity of the vulnerability and issued a fix on 23rd Feb. Update:Youtube has taken down the video of proof of concept

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source: www.techworm.net