Yahoo’s Woes Grow; All 3 Bn Accounts Affected by 2013 Data Theft

Published By : 04 Oct 2017 | Published By : QYRESEARCH

Yahoo has just revealed that its infamous 2013 data theft, an early reminder as to the coming of a world where cyber security is often more important than conventional physical security, extended to all of its 3 billion accounts, rather than the 1 billion the company had previously claimed. The series of thefts in 2013 had forced down the value of Yahoo’s assets significantly before being sold with the current owner, Verizon Communications.

Verizon completed the acquisition of Yahoo’s core assets in July, a dealing process that had already been delayed due to the time required to calculate Yahoo’s losses and the damage caused by the cyber attacks. Verizon had even already dropped its valuation of Yahoo’s core assets by US$350 million following two significant cyber attacks, and could now face a legal hot potato immediately upon acquiring what was once a pioneer for the Internet itself. Verizon didn’t respond to queries about these revelations but this development could significantly challenge its plans to establish Oath, a brand formed out of the company’s Huffington Post, AOL, and Yahoo internet properties.

The new information was revealed following long-running checks from Yahoo itself, Verizon, and numerous cyber security firms. The sustained failure of the security agencies to discover the full extent of the damage caused by the data theft reveals one of the key obstructions in the path of bringing about stronger cyber security legislation. Many companies do not have the infrastructure to identify the network traced by the hackers in their attempt to gain concealed information. This makes it harder for cyber attack victims to keep up even if they are aware they have been hacked.

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