All three billion accounts were hacked in 2013 cyber attack - Yahoo
Oct 04, 2017 Technology 2512 By Abdulkerimu Oare
- All three billion accounts were hacked in 2013 cyber attack - Yahoo.
- Yahoo previously disclosed that only 1 billion accounts were compromised.
- Lawsuits against the company likely to increase.
- Verizon considering the impact on the price of the assets it recently acquired from Yahoo.
Yahoo on Tuesday disclosed that all 3 billion of its accounts were hacked during the cyber
attacks it experienced in 2013 as against the 1 billion accounts the company previously reported December last year.
This new disclosure comes after Yahoo received new intelligence reports that shed more light into the cyber attack. This report is also likely to increase the amount of lawsuits filed against them.
John Yanchunis, a lawyer representing some of the affected Yahoo users, said a federal judge who allowed the case to go forward still had asked for more information to justify his clients’ claims.
“I think we have those facts now,” he said. “It’s really mind-numbing when you think about it.”
Yahoo had previously stated that only 1 billion accounts were compromised back in 2013 which subsequently led the company to cut down the price of some assets it sold to Verizon.
However, Yahoo has on Tuesday changed its position by disclosing that all 3 billion of its account were hacked during the attack after it “recently obtained new intelligence.”
The company said the investigation indicated that the stolen information did not include passwords in clear text, payment card data, or bank account information.
Experts are however saying that the compromised information was protected with outdated and easy to crack encryption and also security question and backup email data which ultimately makes it easier to break into some of the accounts.
Some lawyers asked whether Verizon would look for a new opportunity to address the price.
“This is a bombshell,” said Mark Molumphy, lead counsel in a shareholder derivative lawsuit against Yahoo’s former leaders over disclosures about the hacks.