Yahoo to pay $50 million compensation for 2013 data breach

The security breach is said to have affected 3 billion email accounts worldwide and up to 200 million US users

by exchange4media Staff
Published - Oct 25, 2018 8:40 AM Updated: Oct 25, 2018 8:40 AM
yahoo

In a major development, Yahoo has agreed to pay $50 million to victims of a security breach that is said to have affected some 3 billion email accounts worldwide in 2013, according to media reports.

The company has reportedly agreed to pay this compensation to up to 200 million US users. In addition, the company will cover up to $35 million in lawyer fees related to the case and provide affected users in the US with credit monitoring services for two years via AllClear, a package that would retail for around $350.

There are also compensation options for small businesses and individuals to claim costs for losses associated with the hacks. That could include identity theft, delayed tax refunds and any other issues related to data lost at the hands of the breaches. Finally, those who paid for premium Yahoo email services are eligible for a 25 per cent refund.

Yahoo estimates that 3 billion accounts were impacted by a series of breaches that began in 2013. The incident wasn’t reported publicly until 2016, just months after Verizon announced that it would acquire Yahoo’s core business in a $4.8 billion deal.

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