A Facebook hoax is making its way through news feeds and asks users to post a legal notice under the threat of losing copyright control over their content, according to CNN. Although there are multiple versions going around, one of them reads as follows:

"Now it's official! It has been published in the media. Facebook has just released the entry price: $5.99 to keep the subscription of your status to be set to 'private.' If you paste this message on your page, it will be offered free (paste not share) if not tomorrow, all your posts can become public. Even the messages that have been deleted or the photos not allowed. After all, it does not cost anything for a simple copy and paste."

This marks the third time a hoax like this has hit Facebook, with one happening as recent as last December and as far back as 2012, according to Global News.

Facebook says that users own all of the content that they post - however, they also state that "you grant us a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any IP content [such as photos and videos] that you post on or in connection with Facebook."

The scam takes advantage of the fact that many Facebook users have privacy concerns, especially after the 2014 incident where a married Canadian woman's profile picture ended up on a dating site, according to CBC News.