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Sara Fischer Apr 29, 2017
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Google, Facebook get scammed

Virginia Mayo / AP

Google and Facebook were subject of a phishing scam worth over $100 million, Fortune reports. The Justice Department mysteriously announced last month that two "multinational tech companies" wired a Lithuanian criminal (since arrested) over $100 million after he forged invoices and corporate stamps that appeared to be from the tech company executives.

What they're saying: In a statement, Facebook told Axios it recovered "the bulk of the funds" shortly after the incident. Google says they detected and reported the fraud and "recouped the funds."

Why it matters: The fact that two of the largest, most sophisticated technology companies can fall victim to a phishing scam of this scale proves that the entire Internet ecosystem has a long way to go in creating a safe and protected environment. Axios recently highlighted some of the cybersecurity risks newsrooms are facing in the Internet age.