As predicted, social networks are fertile ground for hackers.

 
In retrospect predicting that Facebook and MySpace worms would arise seems like a no-brainer.  The researchers at F-Secure describe a new threat from Net-Worm.Win32.Koobface.bp which spreads by inducing you to watch a YouTube video that asks you to “update your Flash player,” a fake-codec-update technique.

When you install the “update” you get infected, the worm looks for Facebook cookies, goes to Facebook, and sends a message to your Friends to look at the video, thus propagating widely.  Apparently the payload does no more damage.

What can I say?  The social networking sites, Facebook and MySpace in particular, are going to have to start detecting this type of activity and blocking it.  It takes a lot of abuse to destroy a popular social medium. But it happens. Look at Newsgroups. Have you tried Craigslist lately?  It is the private hunting ground of predators and scam artists.

Facebook and MySpace have limited time to address this. If they don’t their very existence is threatened.