Yahoo Agrees to Settlement Following Massive 2013 Data Breach, Including $50M Fund for Victims

Discussion in 'iOS Blog Discussion' started by MacRumors, Oct 24, 2018.

  1. MacRumors macrumors bot

    MacRumors

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    The data breach that affected all 3 billion Yahoo accounts beginning in 2013 is getting a bit of closure this week, with a settlement agreement between Yahoo and the Northern District Court of California (via Engadget). In the settlement, Yahoo has agreed to put $50 million into a fund for victims of the breach, provide two years of credit monitoring from AllClear, and a few other benefits for victims. The settlement is still awaiting court approval.

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    Those users who spent time addressing the damage from the breach, and can show documentation that they were affected, will be able to file a complaint. The filing requires users to prove documented losses of time measured in hours, and victims can be awarded $25 per hour for up to 15 hours at a maximum of $375. If the user does not have proof of lost time, they are eligible for up to five hours of compensation reaching $125. Those who paid for a premium Yahoo email account will be able to request a 25 percent refund.

    In September 2016, Yahoo first disclosed a 2014 hack in which "at least" 500 million Yahoo accounts were compromised. In December 2016, Yahoo then disclosed a second major hack that affected more than one billion accounts in August 2013 -- the case that this settlement is addressing. Yahoo's new parent company Verizon then explained in October 2017 that all three billion Yahoo accounts that existed at the time were affected in the 2013 hack.

    Information stolen from affected accounts in the 2013 data breach included names, email addresses, telephone numbers, birth dates, hashed passwords, and both encrypted and unencrypted security questions and answers. Clear text passwords, bank account information, and credit/debit card information were not believed to have been accessed in the attack.

    Verizon said in a statement last year, "We proactively work to ensure the safety and security of our users and networks in an evolving landscape of online threats," further iterating that Yahoo will now "benefit from Verizon's experience and resources" in the field of privacy and security.

    Article Link: Yahoo Agrees to Settlement Following Massive 2013 Data Breach, Including $50M Fund for Victims
     
  2. keysofanxiety macrumors G3

    keysofanxiety

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    So that's $0.016 per victim. If you were subject to this breach and win some money, try not to spend it all at once.
     
  3. OldSchoolMacGuy Suspended

    OldSchoolMacGuy

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    Talk about a micro fine for the largest breach in history.
     
  4. now i see it macrumors 68040

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    Problem is... There's no way to know or prove for certain that an identity theft incident was the result of the yahoo breach. Nobody is going to be able to prove that their identity got stolen because of this.

    And how is anyone going to prove they lost so many hours trying to rectify the identity theft. Impossible.

    This settlement is rediculous.
     
  5. ArtOfWarfare macrumors G3

    ArtOfWarfare

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    Wait - my wife has had a Yahoo account since long before 2013. Can she get the $125? We know her account was compromised, and emails are sent to her Yahoo contacts pretending to be her (easily identified because the emails use her maiden name instead of her married last name) periodically. Is that sufficient to claim the $125?
     
  6. dannyyankou macrumors G3

    dannyyankou

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    If you read beyond the first paragraph, you’ll see you can get more than that.

    But anyway, how can you possibly document the number of hours looking into a problem like this?
     
  7. keysofanxiety macrumors G3

    keysofanxiety

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    Yeah but that would involve reading rather than making a snarky comment. :D
     
  8. JosephAW macrumors 68020

    JosephAW

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    Hey that's me. My cc was hacked when I bought something using their store. Had to get new card and spend time on phone with cc co.
     
  9. jimmirehman macrumors 6502

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    Wow so all my personal information was given to the world and I get $.016 for it? I think I’m going to get a lawyer. I want the entire $50 million.
     
  10. HiRez macrumors 603

    HiRez

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    Does reading this article count as "looking into the problem"? I'll read real slow.
     
  11. jimmirehman macrumors 6502

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    doesn't matter, you cant put a price on your privacy, and if you could, it certainly wouldn't be $.016
     
  12. justperry macrumors G3

    justperry

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    U.S. citizens only or worldwide?
     
  13. BaracksPhallusPalace macrumors member

    BaracksPhallusPalace

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    a pathetic fine for a pathetic company that was ruined by a pathetic woman (Marissa Mayer)
     
  14. Chambers McMac macrumors member

    Chambers McMac

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  15. fairuz macrumors 68020

    fairuz

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    They were effed before she was CEO. The company should've been killed long before she took the wheel.
     
  16. SteveW928 macrumors 68000

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    Totally ridiculous amount... peanuts.
    Hopefully it gets turned down and they get closer to $1B fine.
    And, whatever it ends up being, the word needs to get out so everyone possible can claim it. (Note: it's just money put aside for people who do claim... if few claim, they pay even far less.)
     
  17. tcador macrumors 6502

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    Agree unfortunately. I still like the idea of yahoo from the early days. Sigh.
     
  18. Solomani macrumors 68040

    Solomani

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    Does Yahoo even have any money left to pay this settlement?
     
  19. C DM macrumors Sandy Bridge

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    Yahoo! doesn't really exist as a company anymore, just as a brand basically. It would probably be Verizon at this point that would be taking care of this (given that they basically purchased the brand and what's related to it).
     
  20. ActionableMango macrumors G3

    ActionableMango

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    I'm still astonished that Yahoo has 3 billion user accounts.
     
  21. fairuz macrumors 68020

    fairuz

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    Yahoo! also had a lot of stake in other companies, including the lucrative bet they placed on Alibaba. I wonder where that stuff went.
    --- Post Merged, Oct 25, 2018 ---
    Not surprising if you're including inactive ones too.
     
  22. C DM macrumors Sandy Bridge

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    That got spun off into a different invenstment compaby Altaba. It's possible that might actually be the entity that pays for this settlement, or splits it in some way with Verizon.
     
  23. ActionableMango macrumors G3

    ActionableMango

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    Oh inactive accounts is a given. It still surprises me.
     

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22 October 24, 2018