The social media giant has been loosing trust since last few years due to its security and data compromising issues.

Facebook On 18 April 2019 in an update to a post https://newsroom.fb.com/news/2019/03/keeping-passwords-secure/ (The official facebook news blog)

Facebook has confirmed that passwords of millions of instagram users were stored in readable format, in simple language they stored passwords on thier server without encrypting them making them human readable or plain text that means if anyone had access to those servers could see the passwords, facebook added that they were not internally abused in thier primary investigation and will notify those users too.

They didn’t mention the exact number of affected users but ‘millions’ is not a small number.