200 Million Yahoo User Accounts Hacked

The latest massive data breach, one which may or may not be blamed on Putin, came overnight when ReCode reported that Yahoo is poised to confirm that a hacker has exposed approximately 200 million user accounts.
As Recode adds, while sources were unspecific about the extent of the incursion, since there is the likelihood of government investigations and legal action related to the breach, they noted that it is widespread and serious. According to the source, earlier this summer, Yahoo said it was investigating a data breach in which hackers claimed to have access to 200 million user accounts and was selling them online. ‘It’s as bad as that,’ said one source. ‘Worse, really.’
The hack became known in August when an infamous cybercriminal named ‘Peace’ said on a website that he was selling credentials of 200 million Yahoo users from 2012 on the dark web for just over $1,800. The data allegedly included user names, easily decrypted passwords, personal information like birth dates and other email addresses.
The announcement, which is expected to be formally announced this week, could not have come at a worse time for Yahoo which is in the process of closing the $4.8 billion sale of Yahoo’s core business – which is at the core of this hack – to Verizon. Recode notes that “the scale of the liability could be large and bring untold headaches to the new owners. Shareholders are likely to worry that it could lead to an adjustment in the price of the transaction.”
That deal is now moving to completion, but the companies cannot be integrated until it is approved by a number of regulatory agencies, as well as Yahoo shareholders. But representatives of Verizon and Yahoo have started meeting recently to review the Yahoo business, so that the acquisition will run smoothly once complete.

This post was published at Zero Hedge on Sep 22, 2016.