The billions of people who had Yahoo accounts between 2013 and 2016 are eligible for USD 358 in cash or free credit monitoring for two years under a legal settlement valued at USD 117.5 million. Yahoo users whose personal information like names, email addresses and passwords were stolen between 2013 and 2016 because of the data breach are eligible for the settlement. It is important to note that users will have to verify that they already have identity protection or credit monitoring. Though it is estimated that each user would get USD 358, the exact amount ultimately received by them will entirely depend on the number of people who will file claims. Verizon-owned Yahoo disclosed two data thefts that occurred in 2013 and 2014. The company started to reveal the extent of its security breakdown in 2016 amid an FBI investigation. It was eventually linked some of the hacking to Russia.
Verizon-owned Yahoo disclosed two data thefts that occurred in 2013 and 2014. The company started to reveal the extent of its security breakdown in 2016 amid an FBI investigation. It was eventually linked to some of the hacking to Russia. These shocking revelations had led to the resignation of Yahoo CEO Marissa Mayer and the company was forced it to reduce the selling price to Verizon by USD 350 million. That is similar to the Equifax breach settlement which happened this year. The company offered a cash payment of USD 125 to users who were affected by the massive data breach.
According to Yahoo’s settlement note, users who spent time or money to address identity theft or fraud because of the data breach may make a claim. In order to make a claim, users can submit it to Yahoodatabreachsettlement.com. It could take more than a year to complete the approval process. No payments will be made until April 2020 when California courts will hear the final hearing to approve the settlement. All claim forms must be submitted online or mailed before July 20, 2020.