I do not really want to start or get involved in a discussion / argument about Facebook. The risks are actually huge. If you are not aware of this you are not following information from and/or about the whole cyber community. There are regular articles about people getting hacked. The costs and losses are reported to be in the billions.
I have read quite a few books where we see scenarios of what can happen with identity theft. Most of the books are fiction but they are based on facts. The most recent one I read was "Talk Talk" by TC Boyle. There are many others. I suggest doing some reading both of online articles about cyber security as well as books related to the topic.
Here are some facts - this is not about some kid in his parents basement playing computer games. There are "super computers" gathering all kinds of facts and data and statistics. These computers can then correlate all the info to build a complete profile of millions of individuals. They can put pictures with names. They can track down addresses - social security numbers - credit card numbers - they can hack your passwords - they can get in your computer and see keystrokes. So they compile all this data and then they sell it to crooks. The crooks take the info to steal identities and use them. They can buy houses and cars and get credit cards and live a very comfortable lifestyle moving from identity to identity.
Everything you put on Facebook (or anywhere else) can be added to the profile. They know your friends and family. They know everything about you that you put out there or that someone else puts out there about you. I know this is just too mind-boggling to believe or comprehend. But you should believe it. And everything you put on social media goes into these super computers to build your profile. The hacks of Facebook are just part of it. The hackers can get into your computer and get your passwords etc. If you do not believe it and do not believe you are at risk or you think the risks are minimal compared with the benefits you derive from connecting with someone you haven't seen in 40 years and have absolutely nothing in common with then you are being incredibly naive. Sorry, I don't mean to be insulting - but people really do need to wake up and deal with reality and get out of that fantasy world that allows you to think the risks of Facebook and the internet in general are not considerable.
The most valuable thing you own is your good name. Your identity. Once someone with criminal intent gets their hands on that your life is in ruin. It will take years to recover and you many never recover. The risks are substantial. Please take the time to learn more about the realities of all of this. I am not making it up. 50 years ago when I was in Naval Intelligence - with connections to NSA - we did not have near the technology that exists today (and is available to everyone) yet we could spy on anyone we wanted to. Today anyone with a little geek in them can spy on anyone they want to. Today super computer can spy on millions of individuals all over the world at the same time without lifting a finger or batting an eyelash. You are being watched and by going on Facebook give more of your identity away for free. I am not a conspiracy theorist.