Yahoo Agrees to Pay $50M and Other Costs for the Massive Security Breach Disclosed in 2016

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Yahoo Agrees to Pay $50M and Other Costs for the Massive Security Breach Disclosed in 2016

By CircleID Reporter
October 23, 2018, 8:58 pm PDT Views: 8,453 Add Comment

Yahoo today announced it has agreed to pay $50 million in damages and will offer two years of free credit-monitoring services to 200 million people whose email addresses and other personal information were stolen as part of the massive security breach. Michael Liedtke reporting in The Associated Press: “The restitution hinges on federal court approval of a settlement filed late Monday in a 2-year-old lawsuit seeking to hold Yahoo accountable for digital burglaries that occurred in 2013 and 2014, but weren’t disclosed until 2016. ... Verizon will now pay for one half of the settlement cost, with the other half paid by Altaba Inc., a company that was set up to hold Yahoo’s investments in Asian companies and other assets after the sale. ... About 3 billion Yahoo accounts were hit by hackers that included some linked to Russia by the FBI .”

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By CircleID Reporter — CircleID’s internal staff reporting on news tips and developing stories. Do you have information the professional Internet community should be aware of? Contact us.
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