The bigger your company, the more disastrous a cybersecurity breach could stand to be. Since you have more users, you have more information that could leak. This also makes you a bigger target to larger scale hackers. Although the information didn’t come out until 2016, Yahoo was the victim of a massive hack in 2014. Hackers gained access to all kinds of customer information, and the timing couldn’t have been worse in terms of Yahoo’s merger with Verizon. Keep reading to learn all about Yahoo’s biggest breach ever.
The Scope of the Hack
Yahoo is a massive company, and it suffered a proportionately massive hack in 2014. In late 2016, it came out that hackers had gained access to a great deal of user account information. Although it is not believed that financial information was leaked, information like email addresses, passwords, and phone numbers got out. What makes this security breach unique is that hackers got away with information from half a billion accounts. If it was indeed the more than 500 million accounts that Yahoo reported, it was the biggest breach that the world has seen.
What It Means for Verizon
Unfortunately for Yahoo, matters were made worse by the fact that Verizon was in the process of acquiring the company. According to the original terms of the deal, Verizon would purchase Yahoo for $4.8 billion. After the security breach, however, Verizon tried to knock the price down by almost a billion dollars. Yahoo ultimately sold at a $350 million discount.