Instagram claims that it has already fixed the password reset issue that was called a security breach by Malwarebytes.

infosec in brief Meta has fixed a flaw in its Instagram service that allowed third parties to generate password reset emails, ...

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Instagram has denied data breach reports. The company said, "There was no breach of our systems and your Instagram accounts ...

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Instagram says it fixed the issue that sent password reset emails and that there was no breach of its systems.