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September 22, 2016

Yahoo Confirms Massive Data Breach

Yahoo confirmed today at least 500 million accounts were breached following a hack which occurred late in 2014.

According to Business Insider, this could be the largest hack of all time.

The hack exposed the email addresses, names, phone numbers and birth dates of Yahoo’s customers. Some customers’ security questions and answers were stolen as well. The good news is that as of right now, it does not appear the stolen data included bank account and payment information.

Yahoo users are strongly encouraged to update their security settings. In the next few days, Yahoo will be sending email notification to end users who were affected.   

News of the hack first broke back in August, when revealed a hacker was selling Yahoo’s private data on the dark Web. Yahoo, however, did not confirm the breach until today. The company has been working with law enforcement to investigate the incident.

Unfortunately, the hack comes at a very sensitive time for Yahoo. About two months ago, Verizon announced a plan to purchase Yahoo for $4.8 billion.

Here is Verizon’s statement on the data breach:

"Within the last two days, we were notified of Yahoo's security incident. We understand that Yahoo is conducting an active investigation of this matter, but we otherwise have limited information and understanding of the impact. We will evaluate as the investigation continues through the lens of overall Verizon interests, including consumers, customers, shareholders and related communities. Until then, we are not in position to further comment."

Naturally, questions abound about the motive of the hack. Was the hacker trying to interfere with the sale of Yahoo? Was the hack state-sponsored? Or, was it simply an attempt to make money?

We may never find out.

Ultimately, Yahoo was holding an enormous amount of data, and failed to protect it. Now, Yahoo will have to deal with the ramifications of an unprecedented data breach. 

A new breed of hacktrepeneurs has awoken and they have little to fear and everything to gain by infecting as many companies as possible and extorting money from them. Apex Technology Services stands ready to protect your company regardless of whether it’s located in New York CityWhite Plains, New York; Connecticut; Australia; Europe; or anywhere else. Our full suite of cybersecurity and IT support services is at your disposal, enabling you to spend less time worrying about and more time growing your business.

In addition, our new Cybersecurity Compliance Certification for law firms will help keep your legal practice from becoming the next Panama Papers victim. This baseline cybersecurity audit for the legal industry should be considered seriously by all law firms.

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