The American Web Company named Yahoo has seen 2 biggest data breaches and Yahoo was aware about these breaches but they haven’t revealed it publicly. The first one was in the year 2013 and around 3 billion user accounts have been affected but they failed to know what actually had happened. The next one was in 2014 which affected 500 million user accounts and these two were the largest of all the times. The main suspects of this breach have been sentenced for about 3 years. Now you shall know the details on the Data Breach through the article given below and the Yahoo Data Breach Settlement 2024 which will be made to the users.
Yahoo Data Breach Settlement 2024
Yahoo is the most used website which even stores the personal data of the users and states that it is saved with utmost security. The first data breach by Yahoo was seen in the year 2013 where around 3 million user accounts got affected. Under this the email id, phone number, name, date of birth and addresses both in encrypted and unencrypted form was hacked. The other breach was held in the year 2014 attacking around 500 million user accounts and both of these breaches were considered to be the largest of all the times. The breach was very well known by the Company and they remained silent and haven’t stated anything till it was told publicly in the year 2016. When Yahoo has stated this publicly in the year 2016, they also stated that this was the second breach since the year 2014 and they were aware of it.
Yahoo Inc. has declined all the news that any of the law has been violated from their side and have also denied all the facts that they have been making any wrongdoing. The incident has made 4 people found guilty which also includes the “Canadian Hacker named as Karim Baratov” and is sentenced to 5 years of prison. The amount of class action lawsuit settlement is for the amount of $117.5 million and the ones who have submitted their valid claims will be given this benefit amount. Now the lawsuit also charges a fine of $35 million from the US Securities and Exchange Commission. This post will guide the details on the data breach which has been seen since the year 2013 and what are the obligations to it.
Yahoo Data Breach 2024
From the year 2013, the data breach has been seen and the first one was in August 2013. This has led to the personal data leak for the people of the United States. The settlement has been stated to be for the amount of $117.5 million.
| Post Title | Yahoo Data Breach Settlement 2024 |
| Country | USA |
| Data breach in year | 2013 |
| Settlement amount | $117.5 million |
| Fine | $35 million |
| Imprisonment | 5 years |
| Category | Finance |
Yahoo Data Breach In 2013
The first breach which came forward was in August 2013 where 3 billion user accounts have been affected. This was reported in the year 2016 and “Merissa Mayor” who was the CEO in the year 2017 has stated that they still couldn’t find as to how this could have happened.
2014 Yahoo Breach
The next breach was in the year 2014 where an “American Whistleblower named Edward Snowden” was the major target. It was found after the company hired the Chief Information Security Officer named as Alex Stamos. But the Mayor has denied him funds which led to his departure from the Company in the year 2015.
Another 2014 Data Breach
In the late 2014 year, say in November or December, it was seen that a data breach took place where the hacker “Alexey Balen” had copied the backup data of around 500 million user accounts. It included the information regarding the User Account Database which has the names, email, address, phone number, date of birth and other personal details. The password of the users was also stolen and 2 other hackers have accessed the user account information of the citizens. The web cookies were used to steal the information both encrypted and unencrypted. The data breach has been to accounts like Gmail and others.
Public Disclosure In 2016
- In the year 2016, it was seen that the account names and the passwords of the users have been made available for sale and around 200 million user accounts were affected.
- Yahoo has stated that they were aware about the data breach and the Federal Bureau of Investigation has stated that they have been investigating the matter.
- Yahoo has claimed that they have not used any wrongdoing.
- The US Securities and Exchange Commission and Yahoo reported that they have been aware of this intrusion in this network.
- In the year 2017, it was seen that revised estimate was seen that 3 billion Yahoo Accounts have been affected.
What Is The Yahoo Breach Settlement Amount 2024?
Around $117.5 million has to be paid and the amount of $35 million is the fine charged to the US Securities and Exchange Commission.
FAQs On Yahoo Data Breach Settlement 2024
The first breach was for the year 2013 where 3 million user accounts were affected.
$117.5 million is said to be paid as the settlement amount.
The breach in this year was the hacking of the accounts and using their id and password.
The public disclosure in breach was made in the year 2016.