Verizon Demands a Better Deal After Yahoo's Latest Historic Hack

Many Yahoo accounts are likely to house enough detail for someone to commit identity fraud and take out credit cards loans and even open fake bank accounts to launder money

After revealing the smaller breach of 500 million in September, six US senators sent the tech company a letter demanding exactly when the company had learned of the intrusion, finding it "unacceptable that millions of Americans' data may have been compromised for two years".

In the November statement Yahoo filed with the U.S. Securities and Exchange Commission it said that the 2014 hack that affected 500-million users resulted in the looting of: "user account information taken included names, e-mail addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers". "Based on the ongoing investigation, we believe an unauthorized third party accessed our proprietary code to learn how to forge cookies", Lord said. The investigation so far suggests hackers did not obtain credit card or bank account information. Yahoo has been working with law enforcement and a third-party cybersecurity firm to to verify the hack and trace its origin, but the company says that so far it doesn't know who the perpetrator was. The technical team of the company states that they discovered the breach while reviewing the data provided to the company during law enforcement.

Given that the breach occurred three years ago, resetting users' passwords might be too little too late, according to security experts.

Separately, Yahoo previously disclosed that its outside forensic experts were investigating the creation of forged cookies that could allow an intruder to access users' accounts without a password.

Verizon shares rose 0.4% to close at $51.81, in line with the S&P 500 Index. The company is sending out security notices, but all users should immediately reset their Yahoo passwords, and assume that any use of a similar password is unsafe and should change. That breach occurred in 2014 and went undetected by the tech firm for almost two years.

That hack took place in 2014 but was only made public in September. Yahoo believes this incident is likely distinct from the incident the company disclosed on September 22, 2016.

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"We are confident in Yahoo's value and we continue to work towards integration with Verizon", a Yahoo spokesman said in a statement to Forbes.

Yahoo yhoo came under renewed scrutiny by federal investigators and lawmakers on Thursday after disclosing the largest known data breach in history, prompting Verizon Communications vz to demand better terms for its planned purchase of Yahoo's internet business.

Verizon had already said in October it was reviewing the deal after September's breach disclosure.

If any of the user accounts were in Europe, the company could be subject to tough European penalties, too, Webber said.

As previous large-scale hacks have shown, the security breach is unlikely to be limited to Yahoo accounts.

Yahoo announced Wednesday that hackers stole data from more than one billion customer accounts. Avetisov said. "It would be prudent to change everything".

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