What do you think about Facebook hacking?

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Friends, its no longer a new thing that this social site is increasingly becoming a popular site where you connect with friends, loved ones and business partners and colleagues. Its surprising that so much basic, personal and confidential information are stored on this site. My fears about this site started on the day i checked my wall to discovered a posted message with a link from my friend promoting a product. On calling him, he strongly denied it then, the reverse happen to me. It was then i knew some thing might be wrong. So, what do you think?