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Yahoo confirms big data breach

Thursday, September 22, 2016 - 01:46

Yahoo says at least 500 million accounts were hacked in 2014. Fred Katayama reports.

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Yahoo just admitted it fell victim to a massive data breach that has exposed 500 million user accounts in 2014. This development comes just as Yahoo works to complete a $4.8 billion sale of its core web business to Verizon. And that core business, which comprises its services like mail, finance, and sports, was the target of this hack. Max Wolff of Manhattan Venture Partners. (SOUNDBITE) MAX WOLFF, CHIEF ECONOMIST, MANHATTAN VENTURE PARTNERS, (ENGLISH) SAYING: "If you are Verizon, and you are trying to turn around these brands, the first thing you want is not to tell everyone how you're really sorry that you lost their passwords, and, possibly had some hacking episodes. So, that's not the way you want to launch a brand turnaround, so, if I'm Verizon, this makes my climb a little harder , and my backpack a little heavier for what looked like a tough trip, but I don't think it changes anything existentially for the companies." The breach came to light in August, when the tech site, Motherboard, reported that a cyber criminal tried to sell credentials of 200 million Yahoo users for over $1,800. It said the data included user names, passwords, personal information like birth dates, and other email addresses. Erik Knight runs the cybersecurity firm SimpleWan. (SOUNDBITE) ERIK KNIGHT, CEO, SIMPLEWAN, (ENGLISH) SAYING: "The scary thing is here, I think, Yahoo has done steps to protect against using this data against the Yahoo system. But the data that's out there can be used against other systems. So, if you use the same passwords or user names, or recovery information on other services, such as Google, or anything else out there, they can use that data to get in." The big hack is another headache for Yahoo's Chief Executive Marissa Mayer who has failed to revive the Internet giant.

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Yahoo confirms big data breach

Thursday, September 22, 2016 - 01:46