Internet giant Yahoo has confirmed that it has uncovered what is thought to be the largest data breach in history. It occurred in August 2013 and the company admits today that there is the potential that up to one billion account details may have been involved.
The attack is double the previous known high that was uncovred in 2014 and was also against the company. This most recent revelation has unsettled potential suitor Verizon, who admitted that they will watch with interest at whatever conclusion comes from the case. It had emerged that the company had planned to purchase Yahoo’s core internet business for around $4.83 billion. But this may be the straw that broke the camels back on the deal.
So far Yahoo has said that it has been unable to verify the intrusion, this will worry many. The security community has already been highly critical of the company and its rather poor performance of its security policies. Most of the data breach will refer to names, addresses and dates of birth etc. It is unlikely that much financial data has been lost as very little is stored. But the size of the breach and the amount of time it has taken for a such a big name company to figure it out will only produce questions on why data wasn’t secured better.
This only adds to Yahoo’s woes, the tech giant was once the jewel in the internet crown, as one of the dot com boom companies Yahoo was at the forefront of the internet boom. Though with the advent of google, Yahoo’s downward turn began. It is currently third in the search engine usage rankings behind google and Microsoft’s Bing search engine. The Verizon deal that values the company at $4.3 billion shows the demise of the giant, as at one time it was worth over $100 billion. Though the deal only involves the core internet business and not its stakes in Yahoo Japan or its large stake in Alibaba. The company has been a major player in the acquisitions market, as stated they have a large share in Alibaba, they also purchased Tumblr a microblogging website which has yet to show the much promised returns. The losses and the uncertain future of President Marissa Meyer had prompted the sale, as many believe this is the best way to prolong the business. Though this latest breach may scupper that deal once and for all.
Joseph is a 34 year old freelance writer from London. He has a wide interest in politics and specialises in the subject. He's also a blog writer in his spare time.