Yahoo will have to pay $ 50 million dollars to the victims of one of the biggest online data breaches.
Yahoo has agreed to pay 50 millions of dollars as compensation to the victims of an attack that allegedly affected about 200 millions of people. In addition, the company will provide at least two years of free tracking on the markets of the parties involved.
The settlement that comes into force on Monday concerns two separate violations, which took place at 2013 and 2014.
The first attack affects three billion Yahoo accounts (yes, all company accounts). The company then said that source code theft allowed attackers to access any account they wanted, even though passwords were not stored in plain text.
In the second attack, the company reported that 500 million accounts were leaked (names of email addresses, phone numbers, birthdays, encrypted and non-secure passwords, security queries, and replies).
Data breaches were not revealed at that time, but 2016, a delay that caused the wrath of not only the public but also investors. The impact was catastrophic for Yahoo's reputation at a time when Verizon's acquisition of the company was being prepared.
Yahoo was taken over by Verizon 2016 and although the original price was set at 4,8 billions of dollars, after the announcement of hacks the price fell by 350 millions.