Yahoo Data Breach Settlement 2024 – The American Web Company called Yahoo has seen 2 biggest data breaches and Yahoo was aware of these breaches but they haven’t publicly disclosed them. In 2013, around 3 billion user accounts were affected by a data breach, but no one knew what happened to them.
The second breach occurred in 2014 and affected 500 million user accounts, making them the largest breaches of all time. The main suspects of this breach have been sentenced for about 3 years. The following article will provide you with details on the Data Breach and the Yahoo Data Breach Settlement 2024 that will be offered to victims.
Yahoo Data Breach Settlement 2024
Even though Yahoo is the most popular website, it stores the personal data of its users and states that it is stored with extreme security. It was in 2013 that Yahoo experienced its first breach of data, affecting around 3 million user accounts. This led to the theft of email addresses, phone numbers, names, dates of birth, and addresses, both encrypted and unencrypted. Yahoo Data Breach Settlement 2024
Another breach occurred in 2014, which affected around 500 million user accounts and was considered the largest breach in history. In spite of the fact that the Company knew about the breach, they remained silent and didn’t say anything until it came out publicly in 2016. According to Yahoo, this was the second breach since 2014, and they were aware of it when they made this statement to the public in 2016.
There has been no indication from Yahoo Inc. that any of the law has been violated from their side. They have also denied the facts that they have been engaging in any wrongdoing. Including the “Canadian Hacker named Karim Baratov”, four people were found guilty in the incident, and were sentenced to five years in prison. Class action lawsuit settlements amount to $117.5 million, and those who have submitted valid claims will receive this amount of compensation. Here are the details about the data breach seen since the year 2013 and what obligations are associated with it as part of the lawsuit that is currently pending with the Securities and Exchange Commission for $35 million.
Yahoo Data Breach 2024
A data breach was first seen in August 2013, this resulted in the leak of personal information of US citizens. A $117.5 million settlement was reached for the breach.
Yahoo Data Breach Settlement 2024 Overview
| 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
In August 2013, there was the first breach that was reported where 3 billion accounts were affected. This was reported in 2016 and the company’s CEO who was in 2017 stated that they still do not know how this occurred.
Yahoo breach of 2014
An American whistleblower named Edward Snowden was the major target of the next breach in 2014, which happened after the company hired a Chief Information Security Officer named Alex Stamos. However, he was denied funding by the Mayor in 2015, resulting in his departure from the company.
Another data breach in 2014
In late 2014, say in November or December, a data breach took place where the hacker “Alexey Balen” copied the backup data of around 500 million user accounts. This included information about the User Account Database, which has the information about users’ names, email addresses, phone numbers, dates of birth, and other personal information. A user’s password was also stolen, and 2 other hackers accessed the user account information of the citizens. Using web cookies, the information was stolen both encrypted and unencrypted. Gmail, for example, was affected by the data breach.
Public Disclosure In 2016
- Around 200 million user accounts were affected by the sale of account names and passwords in 2016, affecting account names and passwords.
- It has been reported that Yahoo knew about the breach and that the Federal Bureau of Investigation was investigating it.
- According to Yahoo, no wrongdoing has been committed.
- This intrusion in this network was reported to the US Securities and Exchange Commission and Yahoo.
- An estimated 3 billion Yahoo Accounts were affected in 2017, according to a revised estimate.
What Is The Yahoo Breach Settlement Amount 2024?
A fine of $35 million was charged to the US Securities and Exchange Commission for a payment of approximately $117.5 million.
