Users browsing the social networks owned by Silicon Valley guru Mark Zuckerberg had been presented with incorrect warnings for hours till past 11 pm on Monday, resulting in a big loss, and a sincere apology has been sent to everyone impacted by disruptions of Facebook powered services right now by Mike Schroeder, Facebook’s Chief Technology Officer. He said they’re having networking issues, and teams are working as quickly as they can to fix and restore service.

The disruption has already cost the world economy roughly $160 million per hour, according to Netbooks, which measures internet outages and their consequences. The stock of Facebook has dropped by around 5.5 percent. Since the downtime began, Facebook’s Chief Executive Officer, Mark Zuckerberg, has lost approximately $7 billion.

There are 2.9 billion monthly active users on Facebook and its affiliates. The downtime is reminiscent of Facebook’s largest outage to date, which occurred in 2019. (a 24-hour shut down). A server error displayed on the Facebook, Instagram, and WhatsApp websites for hours, indicating that there was a problem with Facebook’s servers.

Users were also unable to send messages or load new content on these sites’ mobile apps, according to TechCrunch. Even Facebook’s virtual reality platform, Oculus, and its business communication tool, Workplace, were unavailable. The outage appears to have been triggered by a domain name server failure, which is the naming system that makes up the web’s architecture.

Facebook’s DNS issues, according to Independent, were simply a symptom. It seemed likely that something had happened to the underlying infrastructure (a stray setting change, a physical outage at a server, or something else entirely) that caused the system to stop working, according to the report

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