Yahoo Agreed to Make Payment of US$50 Million as Settlement for Security Breach

Yahoo Agreed to Make Payment of US$50 Million as Settlement for Security Breach

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At present, Yahoo has been going through a lot of legal issues that are related to one of the biggest data breach in history. As due to this, Yahoo has submitted a settlement in the district court in the U.S. and hadata ve agreed to make a payment of US$ 50 million to the victims. The payment will be done for the damages and it will offer around two years of free-credit monitoring services to around 200 million people across Israel and the U.S. In this breach, people lost their email address and some other personal information.

The court approved the settlement filed by Yahoo on late Monday, which was a two-year old lawsuit that was looking to hold the company accountable for the case of digital burglaries, which occurred in the year 2013 and 2014; however, it was not disclosed by the end of 2016.

Furthermore, about three billion accounts of the Yahoo were hit by the hackers, which included some of which were linked to Russia by the Federal Bureau of Investigation. Furthermore, the settlement filed by Yahoo reached in the court of San Francisco that covered around one billion of the accounts.

After the settlement has been approved, it is expected to close the door for Yahoo’s obligation that is related to the issues and hacks that started from the year 2013. Initially, the data breach was not disclosed; however, wit time the number of affected accounts increased at an alarming rate. By the end of 2017, the number of victims reached around three billion users, which finally resulted in a settlement case by Yahoo.