Yahoo Under SEC Investigation for Not Disclosing Massive Data Breach Sooner

Discussion in ' News Discussion' started by MacRumors, Jan 23, 2017.

  1. MacRumors macrumors bot


    Apr 12, 2001

    Yahoo is under investigation from the Securities and Exchange Commission over its failure to disclose its massive data breaches sooner, according to The Wall Street Journal.

    In September 2016, the internet company revealed that an unidentified hacker had stolen the personal data of "at least" 500 million users. Then last month, the internet company admitted that over one billion Yahoo user accounts had been compromised in a hack dating back to August 2013. Information stolen included names, email addresses, phone numbers, birth dates, hashed passwords, security questions and answers.


    According to today's report, the SEC is investigating why Yahoo waited years before disclosing the massive data breach, despite the fact that some staff had known about the incident since at least 2014. The SEC has requested documents from Yahoo relating to the hacks in order to decide whether the internet giant could have reported the breach to investors sooner.

    Yahoo is currently negotiating a takeover bid by Verizon, who is reportedly seeking a $1 billion discount off an original $4.8 billion buyout agreement because of the hacking revelations. It's unclear what impact the SEC investigation will have on the deal, but Yahoo's share price had already fallen following the news.

    Article Link: Yahoo Under SEC Investigation for Not Disclosing Massive Data Breach Sooner
  2. Relentless Power, Jan 23, 2017
    Last edited: Jan 23, 2017

    Relentless Power macrumors Penryn

    Relentless Power

    Jul 12, 2016
    Yahoo is really disappointing what happened these last few years and how their security deteriorated. Yahoo never used to be like this in the years past, now its a mine field loaded with click bait and garbage posts.

    Whatever Yahoo has coming to them, they earned it.
  3. Wally4000 macrumors newbie

    Oct 10, 2011
  4. timmyh Contributing Editor


    Mar 18, 2016
    Liverpool, UK
    It was a mistake - I've moved it to front page.
  5. HappyDude20 macrumors 68030


    Jul 13, 2008
    Los Angeles, Ca
    Remember when MR truly cared up until about 2013-ish?

    I'm sure many MR users do. Now their site is riddled with ads.

    As for Yahoo, an SEC investigation is certainly in order... but this has nothing to do w/ Mac or Apple.
  6. kahkityoong macrumors 6502


    Jan 31, 2011
    Melbourne, Australia
  7. FightTheFuture macrumors 6502a


    Oct 19, 2003
    that town east of ann arbor
    Millions of Mac users likely use Yahoo services.
    What makes them crooks? Unethical, yes, but crooks? Was there a massive stock sell off in 2014?
  8. Tech198 macrumors G5

    Mar 21, 2011
    Australia, Perth
    Perhaps Yahoo is thinking to get out the short end of the straw for this as the bid ?
  9. MRxROBOT macrumors 6502


    Apr 14, 2016
    Good! They need to be held accountable.
  10. maflynn Moderator


    Staff Member

    May 3, 2009
    Its about time, I was wondering how they were able to get away with sweeping it under the rug like they did.
  11. MacBH928 macrumors 68030


    May 17, 2008
    Just how big is a file/folder of 500m accounts?

    Anyway, Yahoo is dead. Not sure how they make money, Tumblr, Flickr, or their crap search engine.
  12. MrGuder macrumors 68030

    Nov 30, 2012
    Yahoo is gone..nothing to see here...move along...
  13. RightMACatU macrumors 65816


    Jul 12, 2012
    This delay is somewhat proportional to the time it took Yapoo to disclose the breach ;)
  14. Naimfan Suspended


    Jan 15, 2003
    Pretty soon Verizon will offer what Yahoo is actually worth: zero.

    As for ads on MR: Adblock or similar.
  15. Foggydog macrumors 6502


    Nov 8, 2014
    Left Coast
    Let's not be so hard on MacRumors for their adds. I know I personally haven't paid them for this site, and, there are often things I like that they advertise. Some I save for future reference to purchase.
    Those that don't care for the adds, wou7you prefer being charged 9.99 monthly? Not being sarcastic, but I personally hate reoccurring payments.

    Thank you MacRumors for your cool adds. :)
  16. thisisnotmyname macrumors 68000


    Oct 22, 2014
    known but velocity indeterminate
    MacRumors has adds? DPS better kill them first then go back to attacking the boss.
  17. xWhiplash macrumors 68000

    Oct 21, 2009
    Needing an adblocker these days is just as important (or actually more important) as an anti-virus software installed. I have been to legitimate "trust worthy" websites that have ads, dealt with them, but have encountered infections due to the insecure-ness of ads on websites. I do not mind ads. But do not make me compromise my computer security.
  18. eicca macrumors 6502


    Oct 23, 2014
    Thanks to Yahoo's incompetence the identity of every member of my family was stolen.
  19. Borin macrumors regular


    Jan 15, 2016
    Hopefully their change in leadership will actually improve things. I don't think we should cheer the death throes of any giant corporation; the next one could touch a lot closer to home.

    Ads are awful on the web, but it isn't like MR aren't providing a way out of it.
  20. thespacekid macrumors regular

    Jun 26, 2011
    Perhaps someone would investigate the theft of more detailed personal data for over 20 million Americans as a result of the US Gov OPM hack.
  21. Larry The L Suspended

    Jun 9, 2016
  22. Foggydog macrumors 6502


    Nov 8, 2014
    Left Coast
    You do make a good point. I am so used to never needing to worry about viruses, that I don't even think of that anymore.
  23. Zaft macrumors 68040


    Jun 16, 2009
    Brooklyn, NY
    I stopped going to yahoo when all their news was the Kardashians.. Much happier now, dont miss them a bit.
  24. Foggydog macrumors 6502


    Nov 8, 2014
    Left Coast
    Agreed. Some sites are so terrible that it's almost impossible to read what one is there for.
  25. nt5672 macrumors 68000

    Jun 30, 2007
    Based on what we collectively know about the security of all on-line systems, I'm surprised that you blame only Yahoo for incompetence. I have used several Yahoo services and my data was also stolen (but not my identity), but fortunately I understand what data is safe to give others and what is not. ISTM that you and your family might have learned an important lesson and also share some of the blame.

    I don't leave my wallet in a locked car because it might easily get stolen, even though the car should be secure enough to protect it, the police should be available to keep someone from breaking into my car, and the establishment where I park my car should have security cameras and policies to keep thieves out.

    Common sense, I guess, is lacking when assaulted with all of the free gee wiz services marketed to the inexperienced. At the end of the day free has the value that you pay for it, nothing. Free means corners have to be cut. Free means that value judgements are sorely lacking. Free means that you are not the primary concern. A good lesson for us all to keep in mind.

    Of course Yahoo should be held accountable and should get the maximum penalty, but people should really think about their own data and security, and take responsibility for their own protection.

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