Yahoo to pay $35 million for massive data breach

Yahoo will pay $35 million to settle charges against the company for a massive 2014 data breach, the Securities and Exchange Commission said. The Yahoo hack is the largest known data breach in history, affecting an estimated 500 million users. The fine will cost Verizon, who now owns Yahoo, about $14 per user affected.

In late 2016, news broke that 500 million user accounts were compromised two years earlier. Verizon was in the middle of acquiring Yahoo. The news almost sunk the $4.8 billion deal.  The deal eventually closed – for $300 million less than the original deal price.

Links:

Altaba, Formerly Known as Yahoo!, Charged With Failing to Disclose Massive Cybersecurity Breach; Agrees To Pay $35 Million (SEC, Apr. 24, 2018)

Will Yahoo’s massive hack affect its $4.8B deal with Verizon? (Speed Matters, Sept. 29, 2016)

Verizon completes Yahoo purchase (Speed Matters, June 15, 2017)