yahoo | KitGuru https://www.kitguru.net KitGuru.net - Tech News | Hardware News | Hardware Reviews | IOS | Mobile | Gaming | Graphics Cards Thu, 25 Oct 2018 06:46:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.4.3 https://www.kitguru.net/wp-content/uploads/2021/06/cropped-KITGURU-Light-Background-SQUARE2-32x32.png yahoo | KitGuru https://www.kitguru.net 32 32 Yahoo to pay $50 million to some users affected by the 2013 hack https://www.kitguru.net/tech-news/featured-tech-news/matthew-wilson/yahoo-to-pay-50-million-to-some-users-affected-by-the-2013-hack/ https://www.kitguru.net/tech-news/featured-tech-news/matthew-wilson/yahoo-to-pay-50-million-to-some-users-affected-by-the-2013-hack/#respond Thu, 25 Oct 2018 06:46:44 +0000 https://www.kitguru.net/?p=392391 Over the last few years, Yahoo has suffered two major hacks affecting billions of its users. The first, took place in 2013 and the second took place in 2014 but users were only warned about the breach in 2016. Yahoo has already had to pay fines and undergo investigation for its lack of disclosure but …

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Over the last few years, Yahoo has suffered two major hacks affecting billions of its users. The first, took place in 2013 and the second took place in 2014 but users were only warned about the breach in 2016. Yahoo has already had to pay fines and undergo investigation for its lack of disclosure but the story isn't over yet, as this week the company agreed to pay back $50 million to affected users.

Following the massive data breaches that saw three billion Yahoo accounts put at risk, a class-action lawsuit was launched in the US. Now, according to the Associated Press, a settlement agreement has been reached, which will see Yahoo pay $50 million to people in the US and Israel for being affected by the data breach. The class-action lawsuit will see 200 million people eligible for a piece of the settlement, although the California Federal Court still needs to approve this course of action.

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The first major attack on Yahoo took place in August 2013, but the company did not let its customers know until 2016. A similar situation occurred in 2014, where a hack allowed the user details of 500 million accounts to fall into the hands of criminals. Yahoo did not tell its users about this hack until 2016, though the company did admit that some of its employees were aware of the breach well beforehand.

A $50 million payout is very low and 200 million users is only a fraction of the total number of people affected by the hacks. Ultimately, a $50 million settlement results in $25 per eligible person. However, some people will get more than others depending on documentation and losses. Some will be able to get as much as $375, others will receive $125. Those who paid for Yahoo's ‘premium' email subscription will be able to get a 25 percent refund on the subscription cost.

KitGuru Says: In my opinion, Yahoo has gotten off lightly in this case. Sure, the company has had to pay a $35 million fine already, but this class-action lawsuit settlement seems very low given that 3 billion accounts were affected, not to mention the fact that it was all covered up for two years. 

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Yahoo is being fined $35m for improperly handling 2014 hack https://www.kitguru.net/tech-news/featured-tech-news/damien-cox/yahoo-is-being-fined-35m-for-improperly-handling-2014-hack/ https://www.kitguru.net/tech-news/featured-tech-news/damien-cox/yahoo-is-being-fined-35m-for-improperly-handling-2014-hack/#respond Thu, 26 Apr 2018 08:28:07 +0000 https://www.kitguru.net/?p=371518 Although some of the culprits behind Yahoo’s 2014 security breach have been caught, it seems that the company’s problems have only just begun. In light of its failure to disclose the hack properly, the Securities and Exchange Commission (SEC) has decided to issue Yahoo with a hefty $35 million fine. This isn’t Yahoo’s first blunder, …

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Although some of the culprits behind Yahoo’s 2014 security breach have been caught, it seems that the company’s problems have only just begun. In light of its failure to disclose the hack properly, the Securities and Exchange Commission (SEC) has decided to issue Yahoo with a hefty $35 million fine.

This isn’t Yahoo’s first blunder, as the company had previously seen over a billion users vulnerable to stolen information that reportedly fell short of taking financial data back in 2013.

The 2014 breach is believed to have been the work of Russian spies and hackers that were later apprehended after stealing the data of 500 million users. This ranged from usernames and email addresses to their accompanying passwords, birth dates, phone numbers, and security questions and answers.

While the SEC has said that Yahoo’s information security had identified the intrusion and reported it to the company’s senior management and legal department, it was not investigated to a satisfying standard. Furthermore, the information was kept from investors for more than two years, only revealing the information when Verizon expressed interest in purchasing Yahoo in 2016.

“Yahoo's failure to have controls and procedures in place to assess its cyber-disclosure obligations ended up leaving its investors totally in the dark about a massive data breach,” said director of the SEC's San Francisco Regional Office, Jina Choi. “Public companies should have controls and procedures in place to properly evaluate cyber incidents and disclose material information to investors.”

“We do not second-guess good faith exercises of judgment about cyber-incident disclosure,” concluded the co-director of the SEC's Enforcement Division Steven Peikin. “But we have also cautioned that a company's response to such an event could be so lacking that an enforcement action would be warranted. This is clearly such a case.”

KitGuru Says: This is Yahoo’s own doing, meaning that the company has no choice but to step up and admit responsibility. Still, this is quite a blow to the company that could spell trouble in the long-term.

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Yahoo and Mozilla are suing each other over messy search engine deal https://www.kitguru.net/channel/generaltech/matthew-wilson/yahoo-and-mozilla-are-suing-each-other-over-messy-search-engine-deal/ https://www.kitguru.net/channel/generaltech/matthew-wilson/yahoo-and-mozilla-are-suing-each-other-over-messy-search-engine-deal/#respond Wed, 06 Dec 2017 16:21:00 +0000 https://www.kitguru.net/?p=356998 It looks like Yahoo and Mozilla are getting into a legal scuffle. Back in 2014, Mozilla and Yahoo struck a deal, ensuring that Yahoo would be the default search engine on Firefox through to 2019. However, Mozilla has pulled the plug on the deal ahead of schedule, claiming that it was not getting paid. In …

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It looks like Yahoo and Mozilla are getting into a legal scuffle. Back in 2014, Mozilla and Yahoo struck a deal, ensuring that Yahoo would be the default search engine on Firefox through to 2019. However, Mozilla has pulled the plug on the deal ahead of schedule, claiming that it was not getting paid. In turn, Yahoo is also suing Mozilla, claiming that their contract was terminated incorrectly.

Yahoo had been paying Mozilla to keep Yahoo Search as the default for Firefox through to 2019. Half way through this, Mozilla terminated the deal and resorted to using Google as the default search provider for Firefox. Yahoo's side of the story is that terminating the deal was a breach of contract. However, it seems that there were some terms in the deal that gave Mozilla the right to walk away.

Mozilla walked away from the partnership after Yahoo was acquired by Verizon. Under the contract terms reported by Recode, Mozilla had the right to walk away from the deal if it did not deem the new partner to be acceptable. However, the kicker is that the contract also states that should Mozilla walk away due to a change in ownership on Yahoo's part, the new parent company would still have to pay Mozilla for the remainder of the contract.

As a result of these messy contract terms, Mozilla has fired back at Yahoo's breach of contract suit, with a claim that Yahoo still owes money. The Mozilla-Yahoo deal is worth as much as $300 million per year, which is a huge chunk of Mozilla's annual income. As a result, the stakes are pretty high for this one.

KitGuru Says: From the sounds of it, Yahoo agreed to a pretty bad deal with some unfavorable clauses when it comes to new ownership. Judging from the reported terms, Mozilla had free reign to leave when Verizon acquired Yahoo and still have guaranteed income from the deal.

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Firefox Quantum ditches other search engines, bringing back Google by default https://www.kitguru.net/channel/generaltech/damien-cox/firefox-quantum-ditches-other-search-engines-bringing-back-google-by-default/ https://www.kitguru.net/channel/generaltech/damien-cox/firefox-quantum-ditches-other-search-engines-bringing-back-google-by-default/#respond Wed, 15 Nov 2017 19:58:35 +0000 https://www.kitguru.net/?p=354520 Firefox Quantum arrived yesterday, touting improved speed and lower RAM usage when compared to Chrome. Despite the competition between Mozilla and Google, it seems that another thing Firefox Quantum boasts is Google’s search engine by default. For anyone that has been using Firefox since 2014, this is surprising as Mozilla was contracted to use different …

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Firefox Quantum arrived yesterday, touting improved speed and lower RAM usage when compared to Chrome. Despite the competition between Mozilla and Google, it seems that another thing Firefox Quantum boasts is Google’s search engine by default.

For anyone that has been using Firefox since 2014, this is surprising as Mozilla was contracted to use different search engines by default depending on the territory the user is in. While every user has the option to switch to any browser they’d like within the settings, the main default was Yahoo Search. That was, until now, where many territories are seeing the switch back to Google.

“We exercised our contractual right to terminate our agreement with Yahoo based on a number of factors including doing what's best for our brand, our effort to provide quality web search, and the broader content experience for our users,” said Denelle Dixon, Mozilla’s chief business and legal officer.

“We believe there are opportunities to work with Oath and Verizon outside of search.

“As part of our focus on user experience and performance in Firefox Quantum, Google will also become our new default search provider in the United States, Canada, Hong Kong and Taiwan. With over 60 search providers pre-installed as defaults or secondary options across more than 90 language versions, Firefox has more choice in search providers than any other browser.”

The same can be confirmed here, in Britain, with all my searched for the past day having been conducted through Google’s search engine without tinkering with the settings.

The decision to switch is likely over Mozilla protecting its best attempt at regaining popularity to compete with Google Chrome, the most used browser by a clear margin. Yahoo has been subject to a lot of controversy regarding hacks since 2013, most coming to a head throughout this year. Google seems like a bit more of a stable choice as the company moves forward, even if it is a direct competitor.

KitGuru Says: It might be a surprising decision but this is likely to ensure Firefox 57, better known as Quantum, has the best launch it possibly can. I’ve been using the new browser for the past day and must say it is much snappier than I imagined and has a pretty easy way of converting all of your stuff. Have you tried out Firefox Quantum yet?

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The 2013 Yahoo hack actually affected all 3 billion accounts https://www.kitguru.net/tech-news/featured-tech-news/matthew-wilson/the-2013-yahoo-hack-actually-affected-all-3-billion-accounts/ https://www.kitguru.net/tech-news/featured-tech-news/matthew-wilson/the-2013-yahoo-hack-actually-affected-all-3-billion-accounts/#comments Wed, 04 Oct 2017 13:41:23 +0000 https://www.kitguru.net/?p=348994 It turns out that the cyber attack on Yahoo back in 2013 was even worse than originally thought. This week, the company revealed that all three billion of its accounts were hacked during the 2013 breach, which is three times more accounts than previously predicted. Previously, it was thought that 1 billion accounts were compromised, …

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It turns out that the cyber attack on Yahoo back in 2013 was even worse than originally thought. This week, the company revealed that all three billion of its accounts were hacked during the 2013 breach, which is three times more accounts than previously predicted.

Previously, it was thought that 1 billion accounts were compromised, meaning a good two thirds of Yahoo accounts would have remained safe. However, it seems this is no longer the case, the hackers apparently managed to get their hands on the details of all three billion Yahoo accounts. This news has come out following Verizon’s acquisition of Yahoo. Upon merging with the company, some third-party forensic experts were brought on board to reassess the attack on Yahoo, finding that every single account was affected.

As Yahoo puts it, this is not a new security issue, but the company will be sending out new notification emails to the additional affected accounts. As part of a statement on the matter, Verizon’s Chief Information Security Officer, Chandra McMahon said:

“Verizon is committed to the highest standards of accountability and transparency, and we proactively work to ensure the safety and security of our users and networks in an evolving landscape of online threats. Our investment in Yahoo is allowing that team to continue to take significant steps to enhance their security, as well as benefit from Verizon's experience and resources.”

KitGuru Says: I didn’t think that the Yahoo security breach issue could get any worse, but here we are. Even four years on, new details surrounding the attack are still coming to light. Hopefully this will be the end of it though. In case you haven’t already, make sure to change your password if you have a Yahoo account.

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US charges two Russian hackers and two Russian spies over 2014 Yahoo hack https://www.kitguru.net/gaming/security-software/matthew-wilson/us-charges-two-russian-hackers-and-two-russian-spies-over-2014-yahoo-hack/ https://www.kitguru.net/gaming/security-software/matthew-wilson/us-charges-two-russian-hackers-and-two-russian-spies-over-2014-yahoo-hack/#comments Wed, 15 Mar 2017 16:36:46 +0000 http://www.kitguru.net/?p=325342 Over the last couple of years, Yahoo has suffered two major security breaches, affecting hundreds of millions of users. While the company didn't handle the situation very well at all, it does seem that the US authorities have tracked down the culprits behind at least one of the attacks, with the US Justice Department indicting four …

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Over the last couple of years, Yahoo has suffered two major security breaches, affecting hundreds of millions of users. While the company didn't handle the situation very well at all, it does seem that the US authorities have tracked down the culprits behind at least one of the attacks, with the US Justice Department indicting four Russians in connection to it, two of which are believed to be spies.

The initial report here comes from the Washington Post, which also claims that two of the Russians being indicted work for the country's FSB intelligence agency, effectively making them spies. This also marks the first time the US has directly levied cybercrime charges at a Russian official.

The other two people being charged are said to be run of the mill hackers, who were hired to help out with this specific job. One of these hackers was arrested back in December, while the other was arrested just yesterday in Canada. However, given that the US has no extradition treaty with Russia, only one of the four people involved may end up facing trial.

Charges in this instance are said to include trade secret theft, wire fraud and economic espionage, though the full list is likely quite a bit longer than that.

KitGuru Says: The initial hack here happened way back in 2014, so it has taken quite some time for this investigation to come to a conclusion. However, while it's all well and good that those responsible have been found, Yahoo really should face some sort of reprimand for its lack of disclosure, leaving 500 million of its own customers vulnerable for almost two years. 

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Verizon and Yahoo agree to $4.48 billion purchase price https://www.kitguru.net/channel/jon-martindale/verizon-and-yahoo-agree-to-4-48-billion-purchase-price/ https://www.kitguru.net/channel/jon-martindale/verizon-and-yahoo-agree-to-4-48-billion-purchase-price/#comments Wed, 22 Feb 2017 09:39:36 +0000 http://www.kitguru.net/?p=322589 Following lengthy debates and much fall out at the news that Yahoo had suffered a number of breaches over the past few years, a deal has been reached for the planned Verizon buyout. It won't be quite the near $5 billion initially offered, but neither has Yahoo lost a billion because of the hacks. Instead, an …

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Following lengthy debates and much fall out at the news that Yahoo had suffered a number of breaches over the past few years, a deal has been reached for the planned Verizon buyout. It won't be quite the near $5 billion initially offered, but neither has Yahoo lost a billion because of the hacks. Instead, an agreement has been reached for a figure of $4.48 (£3.59) billion.

The deal between Verizon and the once-upon-a-time web giant, Yahoo, was originally announced in June last year, but following several revelations about hacks which had hit the company in recent years, it seemed clear Verizon wasn't quite as keen. Over the past six months we've heard multiple times that Verizon was debating down the price it expected to pay for Yahoo's core businesses and user databases and it ultimately shaved around $500 million from the price tag.

The deal was signed on Sunday, after an agreement in principle was reached just over a week ago. The final deal is now expected to close in the second quarter, though there may be some delay for the integration of all of Yahoo's services with Verizon's business due to the hacks, as per Reuters.

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Although the purchase of Yahoo is not a deal everyone thinks is a great plan, considering Yahoo's status in the industry and its weakened security, Verizon does acquire a reasonably strong online advertising business as part of the deal. While Yahoo hasn't turned a profit in some time, it does generate over $5 billion in annual revenue, which if managed better, could potentially add something to Verizon's existing online advertising presence.

The buyout also gives Verizon access to over a billion users. While many of them may have moved on from Yahoo's services, the marketing potential is certainly there and for those that do still use Yahoo services, it's possible that they could see some benefits from the buyout.

As part of the move, Verizon made sure to secure a joint liability agreement, which would still see Yahoo independently responsible for any shareholder lawsuits or SEC investigations.

Discuss on our Facebook page, HERE.

KitGuru Says: The question now, is does Yahoo CEO, Marissa Mayer, get her $55 million+ payout for the company selling?

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Verizon to shave $300 million from Yahoo deal https://www.kitguru.net/channel/jon-martindale/verizon-to-shave-300-million-from-yahoo-deal/ https://www.kitguru.net/channel/jon-martindale/verizon-to-shave-300-million-from-yahoo-deal/#respond Thu, 16 Feb 2017 11:16:18 +0000 http://www.kitguru.net/?p=321907 The Verizon Yahoo buyout deal is still likely going ahead for somewhere in the region of several billion dollars, but that doesn't mean they've settled on a price. Indeed closing in on a year on from the initial announcement, Verizon is still looking to pay less for internet giant in the wake of several hacks and …

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The Verizon Yahoo buyout deal is still likely going ahead for somewhere in the region of several billion dollars, but that doesn't mean they've settled on a price. Indeed closing in on a year on from the initial announcement, Verizon is still looking to pay less for internet giant in the wake of several hacks and security breach announcements at the end of 2016.

The initial purchase price for Yahoo was going to be in the region of $5 billion, but when it was announced that hundreds of millions of Yahoo customers have been affected by a couple of security breaches over the preceding years, the talk was that Verizon would be slashing a billion from its offer. Negotiations have been ongoing since then though and it now seems like Verizon may settle with trimming ‘just' $300 million from its original offer (thanks Reuters).

It seems likely now that the final purchase price for Yahoo will be in the region of $4.5 billion, which is far from its once peak of $125 billion during the dotcom bubble.

Source: Wikimedia

The plan for Yahoo is to combine it with resources from other Verizon purchases like AOL, to create a new entity called Altaba. It will be a conglomerate of many early internet franchises and businesses, including Yahoo email, messenger assets and search functions, as well as the company's reasonably strong online-advertising business.

It's not clear at this time if Yahoo CEO Marissa Mayer will still receive her planned severance package of $55 million if the deal goes through.

Discuss on our Facebook page, HERE.

KitGuru Says: The most amazing part of this whole deal for me is Mayer's pay. She's received more than $200 million from Yahoo over the past four years, despite her ineffectiveness as the company's head. And now she might receive another $55 million just because the company is being sold. It's crazy when you consider a couple of thousand Yahoo employees have lost their jobs in recent years because of its downturn.

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Yahoo under investigation for failing to disclose major hacks https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-under-investigation-for-failing-to-disclose-major-hacks/ https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-under-investigation-for-failing-to-disclose-major-hacks/#respond Wed, 25 Jan 2017 10:19:55 +0000 http://dev.kitguru.net/?p=319651 Over the last few years, Yahoo has suffered two major hacks affecting millions of its users. However, in both cases, the company kept quiet on the security breaches, all the while compromising the security of its users. Now, it looks like Yahoo may be held accountable for that as the Securities and Exchange Commission is …

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Over the last few years, Yahoo has suffered two major hacks affecting millions of its users. However, in both cases, the company kept quiet on the security breaches, all the while compromising the security of its users. Now, it looks like Yahoo may be held accountable for that as the Securities and Exchange Commission is taking issue with the total lack of disclosure.

The SEC originally opened up its investigation into Yahoo back in December, according to The WallStreet Journal. According to people involved with the matter, the commission is looking over documents to determine whether or not Yahoo's late disclosures were in compliance with civil security laws.

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The first major attack on Yahoo took place in August 2013, but the company did not let its customers know until 2016. A similar situation occurred in 2014, where a hack allowed the user details of 500 million accounts to fall into the hands of criminals. Yahoo did not tell its users about this hack until 2016, though the company did admit that some of its employees were aware of the breach well beforehand.

The Securities and Exchange Commission has never brought a case against a company for not disclosing a cyber attack within a reasonable time frame, so this is new territory as far as the law is concerned. Still, news of this investigation has caused Yahoo's share price to dip once again as more investors jump ship.

KitGuru Says: A company getting hacked is one thing, it happens and for the most part, people are willing to forgive. However, getting hacked and then not letting users know for years is quite a different matter and heavily compromises security. It seems that Yahoo has been completely careless in both of these cases and it deserves some greater consequences for it. Whether or not that comes to fruition remains to be seen though.

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Yahoo to be renamed Altaba after Verizon purchase https://www.kitguru.net/channel/jon-martindale/yahoo-to-be-renamed-altaba-after-verizon-purchase/ https://www.kitguru.net/channel/jon-martindale/yahoo-to-be-renamed-altaba-after-verizon-purchase/#comments Tue, 10 Jan 2017 09:17:05 +0000 http://www.kitguru.net/?p=317001 It looks like the recently announced hacks of Yahoo haven't lead to Verizon backing out of its intention to purchase the long-standing internet firm. However it won't be maintaining the brand after the buyout, renaming what remains after downsizing, to Altaba. Verizon originally announced an interest to buy up Yahoo in mid-2016. The sale was …

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It looks like the recently announced hacks of Yahoo haven't lead to Verizon backing out of its intention to purchase the long-standing internet firm. However it won't be maintaining the brand after the buyout, renaming what remains after downsizing, to Altaba.

Verizon originally announced an interest to buy up Yahoo in mid-2016. The sale was said to be for just under $5 billion, a far cry from Yahoo's early '00s peak of somewhere north of $125 billion. Still, with its businesses ailing and a brand name beset with issues around security, it was as reasonable figure – albeit one that seemed a little shaky at times.

The sale will see much of Yahoo's core businesses – its advertising network, email service and search functions – rolled into the new Altaba ‘investment company,' though won't include certain patents and some of its Asian companies – some of which are already owned by Alibaba.

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Source: Wikimedia

As the SEC paperwork explains (via Ars) Altaba's board will be reduced to just five people, with CEO Marissa Mayer one of those set to leave. It's not clear at this time if that means she'll be getting her $55 million (£45 million) expected payout as part of her early release clause. It's possible she could just be reassigned to another part of Verizon until it expires.

Although Yahoo might seem like an odd purchase for Verizon, it joins the previous buyout of AOL, giving Verizon full control over a lot of early-internet brands and assets.

Discuss on our Facebook page, HERE.

KitGuru Says: Although the death knell for Yahoo rang years ago, when the sale is completed, this will be the end of an era that sees one of the last, great, internet giants of the early days close up shop. 

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Verizon may back out of Yahoo buyout after massive hack revealed https://www.kitguru.net/gaming/security-software/matthew-wilson/verizon-may-back-out-of-yahoo-buyout-after-massive-hack-revealed/ https://www.kitguru.net/gaming/security-software/matthew-wilson/verizon-may-back-out-of-yahoo-buyout-after-massive-hack-revealed/#comments Thu, 15 Dec 2016 18:17:28 +0000 http://www.kitguru.net/?p=314818 Yahoo is facing a lot of scrutiny right now after the company revealed yet another massive hack to its customers. Earlier this year, Yahoo finally admitted to having 500 million user accounts compromised during an attack back in 2014 but it turns out that wasn't even the worst of it. Today, Yahoo finally revealed that …

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Yahoo is facing a lot of scrutiny right now after the company revealed yet another massive hack to its customers. Earlier this year, Yahoo finally admitted to having 500 million user accounts compromised during an attack back in 2014 but it turns out that wasn't even the worst of it. Today, Yahoo finally revealed that its servers had been compromised back in 2013, leading to the credentials of 1 billion users being stolen, which could very well cost the company its buyout deal with Verizon.

Verizon placed a $4.8 billion bid to acquire Yahoo earlier this year and despite admitting to the 2014 hack a few months back, the buyout was still going to go through. However, after today's revelation that 1 billion accounts were compromised in 2013, Verizon is said to be looking to back out of the deal entirely.

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Image Credit: Blender

This is according to sources speaking with Bloomberg, who claim that Verizon may also consider lowering the amount it is willing to pay to acquire Yahoo in the face of this attack. Verizon is currently looking into the damage these attacks have caused to Yahoo, they are also assessing legal liability in case Yahoo ends up being taken to court over these hacks and the lack of disclosure.

Following news of this latest attack, Yahoo shares dropped by over 4 percent and according to cyber security scientist Kenneth Geers who works at the firm Comodo, this hack may have been entirely down to Yahoo's lack of interest in properly protecting its users: “Yahoo should know that it is an invaluable target for cybercrime syndicates and nation-states and invest the resources to protect its data accordingly. The use of vulnerable MD5 hashes suggests that Yahoo was not paying sufficient attention to security.”

Discuss on our Facebook page, HERE.

KitGuru Says: It seems that Yahoo has been pretty irresponsible in its security practises over the last few years, which isn't a good sign for any of its users. The 2014 hack was bad, but the fact that this has happened twice on such a large scale is crazy and the fact that it took years to give customers notice that their information had been compromised is appalling. I do wonder if any legal ramifications will be handed down due to this though. 

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Yahoo lost a billion users’ account details in yet another hack https://www.kitguru.net/gaming/security-software/jon-martindale/yahoo-lost-a-billion-users-account-details-in-hack/ https://www.kitguru.net/gaming/security-software/jon-martindale/yahoo-lost-a-billion-users-account-details-in-hack/#comments Thu, 15 Dec 2016 08:53:34 +0000 http://www.kitguru.net/?p=314746 If you had a Yahoo account at any point before 2013, then there's a chance that some of your details have been copied away by hackers. Yahoo has admitted that as many as one billion user accounts may have been affected in a hack which dates back to 2013. Everything from names, to email addresses …

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If you had a Yahoo account at any point before 2013, then there's a chance that some of your details have been copied away by hackers. Yahoo has admitted that as many as one billion user accounts may have been affected in a hack which dates back to 2013. Everything from names, to email addresses and passwords were viewable, though we're told no financial data was made vulnerable.

Yahoo has had a rough year when it comes to security breaches. It announced in September, that some 500 million of its users' accounts had been affected by a breach that took place in 2014 and now as many as a billion have fallen foul of another. This one took place even earlier though, with more than three years difference between the time of the hack and its detection (thanks BBC).

yahoohq

Source: Coolcaesar/Wikimedia

Analysts believe this could be the biggest data breach in consumer history, stealing the crown from the Yahoo hack announced earlier this year. Although the search and advertising giant has urged users to respond by changing their passwords, many see that as rather redundant considering the time it took Yahoo to notice the hack.

As much as this will be a blow for Yahoo consumers though, Yahoo's business branch will also likely feel the heat from this attack. When the 2014 breach was announced earlier this year, Verizon, which is currently in talks to buy the longtime internet company, devalued its bid by a billion dollars. It may well do something similar following the news of this breach, as it seems likely to critically damage the Yahoo brand.

This could see Verizon's offer drop below $4 billion, a sheer drop off from the company's once value peak of more than $100 billion.

Discuss on our Facebook page, HERE.

KitGuru Says: Not only does it seem that Yahoo's digital security was out of whack, but that its ability to detect breaches was terrible. Leaving customers at the mercy of those who would take part in hacks like this is irresponsible and simply not good enough.

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Yahoo admits employees knew about 2014 hack https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-admits-employees-knew-about-2014-hack/ https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-admits-employees-knew-about-2014-hack/#comments Fri, 11 Nov 2016 17:49:51 +0000 http://www.kitguru.net/?p=311455 Earlier this year, Yahoo finally officially confirmed that it was hacked back in 2014, leaving 500 million user accounts exposed. While Yahoo only just got around to confirming that it was hacked a few months ago, we did not know when the company first discovered the breach. However, this week in a filing with the …

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Earlier this year, Yahoo finally officially confirmed that it was hacked back in 2014, leaving 500 million user accounts exposed. While Yahoo only just got around to confirming that it was hacked a few months ago, we did not know when the company first discovered the breach. However, this week in a filing with the Securities and Exchange Commission, Yahoo appears to have admitted that employees were aware of the hack very early on.

At this point, we don't know who was behind the attack on Yahoo in 2014 but the company claims it was carried out by a foreign government entity. While Yahoo may have known about the hack back when it first occurred, it only bothered to tell its users about the breach in July 2016, almost two years later.

450542-yahoo-mail-tips-e1474539611568

The Securities and Exchange Commission filing reads: “In late July 2016, a hacker claimed to have obtained certain Yahoo user data. After investigating this claim with the assistance of an outside forensic expert, the Company could not substantiate the hacker’s claim. Following this investigation, the Company intensified an ongoing broader review of the Company’s network and data security, including a review of prior access to the Company’s network by a state-sponsored actor that the Company had identified in late 2014”.

According to the filing, so far 23 class-action lawsuits have also been filed against Yahoo in response to this hack and the company's lack of disclosure to affected users.

KitGuru Says: If Yahoo knew about the attack as far back as 2014, then it raises some serious questions about the company's policies and practises. Millions of users had their information stolen and failing to disclose that fact sooner is a huge misstep on Yahoo's part. 

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Hacks and spying, how Yahoo lost a billion dollars https://www.kitguru.net/channel/jon-martindale/hacks-and-spying-how-yahoo-lost-a-billion-dollars/ https://www.kitguru.net/channel/jon-martindale/hacks-and-spying-how-yahoo-lost-a-billion-dollars/#respond Fri, 07 Oct 2016 11:52:30 +0000 http://www.kitguru.net/?p=308058 As a company still riding its wave of late '90s popularity, Yahoo is a company out of time. Its poor timing has really bitten it in the ass this year though, as while trying to accept a buyout from Verizon to the tune of near $5 billion, it's been faced with embarrassing set backs, leaving …

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As a company still riding its wave of late '90s popularity, Yahoo is a company out of time. Its poor timing has really bitten it in the ass this year though, as while trying to accept a buyout from Verizon to the tune of near $5 billion, it's been faced with embarrassing set backs, leaving Verizon dropping its offer by a cool $1 billion.

Yahoo has had a rough time of it in recent months. On top of announcing its sale to Verizon for $4.8 billion – a large drop off from the $100 billion it was valued at in 2000 – it's had to deal with half a billion of its accounts having been hacked and the revelation that it helped an intelligence agency spy on its entire user base. It's left the company looking weak and willing to autonomously monitor anyone who even interacts with a Yahoo email address.

This is not a good time to be selling, but Yahoo is pinned in the corner and Verizon knows it, hence the request that it drop a billion off of the price it was planning to pay for the aged internet firm. It argues (as per NYPost) that Yahoo's value and brand image have been severely impacted by these events and that not enough was disclosed before the original purchase price was agreed upon.

yahoohq

The fact that Verizon is still interested however suggests that it has little interest in ditching the deal, it just wants to take advantage of the situation. When combined with its AOL business, the Yahoo purchase will give Verizon access to huge numbers of internet users for its advertising online, potentially making it a decent competitor for the likes of Google and Facebook, which dominate online ads as it stands.

Yahoo is said to be negotiating hard to try and prevent the price of the deal from collapsing, but considering it's unlikely to get a better offer now news of the discount demands has broken, it doesn't have much of a leg to stand on.

Discuss on our Facebook page, HERE.

KitGuru Says: It's pretty amazing that anyone is willing to pay even this much for Yahoo at this point. It's one of those companies that I'm still surprised is operating at all.

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Yahoo said to be complicit in email scanning for U.S. intelligence https://www.kitguru.net/gaming/security-software/jon-martindale/yahoo-said-to-be-complicit-in-email-scanning-for-u-s-intelligence/ https://www.kitguru.net/gaming/security-software/jon-martindale/yahoo-said-to-be-complicit-in-email-scanning-for-u-s-intelligence/#respond Wed, 05 Oct 2016 08:34:19 +0000 http://www.kitguru.net/?p=307859 If you're a Yahoo email user, you should be aware that in 2015 the web giant built a specialised piece of software to scan all incoming emails to all Yahoo mail accounts, searching for certain phrases and statements related to U.S. intelligence. Three former employees have claimed to have seen the surveillance in action and said …

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If you're a Yahoo email user, you should be aware that in 2015 the web giant built a specialised piece of software to scan all incoming emails to all Yahoo mail accounts, searching for certain phrases and statements related to U.S. intelligence. Three former employees have claimed to have seen the surveillance in action and said it was the reason for Yahoo information security officer, Alex Stamos, leaving that same year.

“Yahoo is a law abiding company, and complies with the laws of the United States,” is the only statement Yahoo has released on the matter. However Reuters cites three ex-Yahoo workers as sources, as well as a fourth person said to be ‘familiar with the matter.' It claims Yahoo's legal department was contacted by a federal agency, though it remains unconfirmed if it was FBI or NSA.

It also remains unclear what information Yahoo was tasked to find or who it related to. It's possible that since it was said to be using intelligence information as a marker, that perhaps it was helping to discover the identity or location of a whistleblower or leaker, like Edward Snowden and Julian Assange.

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What's staggering with this news though isn't necessarily that the surveillance took place – surveillance of email is hardly new – but the scale of it. Scanning every incoming email means that not only did Yahoo breach the privacy of every one of its users without a warrant, but it also did so for anyone who emailed its customers. That's arguably data it had no right to.

When asked it if had received similar requests with regards to its Gmail service, Google said that it had never and would never comply with any such demands. Microsoft too said it had never engaged in any email scanning.

It could be that Yahoo believed if it fought the demand, that it would lose. In 2007 it previously contested a similar request for specific email accounts without a warrant. Yahoo purportedly challenged it and lost, so perhaps it wanted to avoid a similar instance in 2015.

Regardless, it's claimed that the discovery of this clandestine surveillance is why chief information security officer at Yahoo, Alex Stamos, resigned in 2015.

It will be interesting to see if this revelation has any impact on Yahoo's pending sale to media giant Verizon.

Discuss on our Facebook page, HERE.

KitGuru Says: This is a pretty gross use of power and a clear indication of why encryption is so important in protecting the privacy of individuals around the world. 

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Yahoo confirms ‘state-sponsored’ hack, 500 million accounts affected https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-confirms-state-sponsored-hack-500-million-accounts-affected/ https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-confirms-state-sponsored-hack-500-million-accounts-affected/#comments Fri, 23 Sep 2016 16:42:09 +0000 http://www.kitguru.net/?p=306966 Update: Following on from yesterday's news, Yahoo has officially confirmed that it suffered a major security breach in which the information of 500 million user accounts was stolen. This hack actually took place in late 2014 and similarly to the hack on Sony in 2014, the attack on Yahoo may also have been state-sponsored, though …

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Update: Following on from yesterday's news, Yahoo has officially confirmed that it suffered a major security breach in which the information of 500 million user accounts was stolen. This hack actually took place in late 2014 and similarly to the hack on Sony in 2014, the attack on Yahoo may also have been state-sponsored, though the exact culprit has not been named.

In a message to its users, Yahoo explained that account information may have included “names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers.”

Right now, there is no evidence that the ‘state-sponsored actor' still has access to Yahoo's internal network and law enforcement is now involved. Those who may have been affected by this hack are being notified by Yahoo and will need to update the security information for their accounts. At this time, it does not look like this has affected the acquisition deal between Yahoo and Verizon.

Original Story: It looks like Yahoo may have suffered a massive security breach recently, which could impact millions of users. So far, Yahoo has yet to publicly confirm the data leak but according to sources close to the situation, the breach is ‘widespread and serious', we should also be getting confirmation from the company fairly soon.

This information comes from sources speaking with Recode, who claim that this breach is ‘as bad' if not worse than the reported leak that happened a few months ago, in which hackers claimed to have accessed 200 million Yahoo accounts and began selling them online.

Yahoo

A major security breach at this time could have lasting repercussions for Yahoo too, as the company is in the process of being acquired by Verizon. This breach could end up scaring off shareholders and could lower the value of the acquisition deal, which has yet to be completed.

At the moment, Yahoo has yet to comment on these reports but if it is planning to confirm the breach, we should hear something soon.

KitGuru Says: It looks like Yahoo could be in a tough position here, not just with its millions of users, but with Verizon too, which is said to be acquiring Yahoo. If you happen to use Yahoo, it might be a good time to change passwords.

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Yahoo said to confirm major security breach this week https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-said-to-confirm-major-security-breach-this-week/ https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-said-to-confirm-major-security-breach-this-week/#comments Thu, 22 Sep 2016 10:21:46 +0000 http://www.kitguru.net/?p=306829 It looks like Yahoo may have suffered a massive security breach recently, which could impact millions of users. So far, Yahoo has yet to publicly confirm the data leak but according to sources close to the situation, the breach is ‘widespread and serious', we should also be getting confirmation from the company fairly soon. This …

The post Yahoo said to confirm major security breach this week first appeared on KitGuru.]]>
It looks like Yahoo may have suffered a massive security breach recently, which could impact millions of users. So far, Yahoo has yet to publicly confirm the data leak but according to sources close to the situation, the breach is ‘widespread and serious', we should also be getting confirmation from the company fairly soon.

This information comes from sources speaking with Recode, who claim that this breach is ‘as bad' if not worse than the reported leak that happened a few months ago, in which hackers claimed to have accessed 200 million Yahoo accounts and began selling them online.

Yahoo

A major security breach at this time could have lasting repercussions for Yahoo too, as the company is in the process of being acquired by Verizon. This breach could end up scaring off shareholders and could lower the value of the acquisition deal, which has yet to be completed.

At the moment, Yahoo has yet to comment on these reports but if it is planning to confirm the breach, we should hear something soon.

KitGuru Says: It looks like Yahoo could be in a tough position here, not just with its millions of users, but with Verizon too, which is said to be acquiring Yahoo. If you happen to use Yahoo, it might be a good time to change passwords.

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Verizon might be getting into the fleet tracking game https://www.kitguru.net/channel/jon-martindale/verizon-might-be-getting-into-the-fleet-tracking-game/ https://www.kitguru.net/channel/jon-martindale/verizon-might-be-getting-into-the-fleet-tracking-game/#comments Wed, 10 Aug 2016 08:21:25 +0000 http://www.kitguru.net/?p=302266 In a continued blurring of the boundaries between technology firms and automotive companies, Verizon may be looking to dip its toes into the fleet tracking market. It recently purchased a vehicle tracking firm which focuses on the Internet of Things to find out where they are and is now said to be considering another which utilises GPS technology …

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In a continued blurring of the boundaries between technology firms and automotive companies, Verizon may be looking to dip its toes into the fleet tracking market. It recently purchased a vehicle tracking firm which focuses on the Internet of Things to find out where they are and is now said to be considering another which utilises GPS technology for the same aim.

The rumour is that it could purchase Fleetmatics, one of the world's largest fleet management companies, for a cool $2.4 billion. This comes just a few weeks after it was announced that Verizon was buying up the ageing Yahoo for £4.8 billion.

As Reuters explains, mega corporations like Verizon have a lot of potential in their businesses, but leveraging all its data and content to actually earn their keep isn't always easy. Verizon may be looking to utilise its vast stores of data to help fleet tracking businesses improve their accuracy and offer a more nuanced service to customers.

fleettracking

Rival telecoms giant AT&T, is expected to do something similar over the next few months and is said to be interested in purchasing Teletrack Navman, Omnitracs, Geotab and Zonar, according to analysts. All of them offer similar tracking systems to Fleetmatics and could easily be considered some of its largest rivals.

Part of the reason fleet tracking is the industry both firms are looking to get into, is because of new federal legislation in the U.S., which would see all business vehicles in America feature recording equipment of some kind to track location, speed and operating hours. That's a lot of new business potential for all tracking companies.

Discuss on our Facebook page, HERE.

KitGuru Says: Although it feels a little creepy, there are a lot of benefits to tracked vehicles in the work place. Privacy isn't such a concern either since your intended destination should already be known.

 

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200 million Yahoo customer details up for sale on dark web https://www.kitguru.net/gaming/security-software/jon-martindale/200-million-yahoo-customer-details-up-for-sale-on-dark-web/ https://www.kitguru.net/gaming/security-software/jon-martindale/200-million-yahoo-customer-details-up-for-sale-on-dark-web/#comments Wed, 03 Aug 2016 11:47:14 +0000 http://www.kitguru.net/?p=301462 In a move that can't please Yahoo or its potential new owners at Verizon, around 200 million of the web giant's customer details are said to be available for sale on the dark web. Yahoo has said since that it is aware of the claim and is working to confirm its accuracy. This couldn't come …

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In a move that can't please Yahoo or its potential new owners at Verizon, around 200 million of the web giant's customer details are said to be available for sale on the dark web. Yahoo has said since that it is aware of the claim and is working to confirm its accuracy.

This couldn't come at a worse time for Yahoo. It recently accepted a bid from telecom giant Verizon of $5 billion to buy out its entire corporate assets and technologies. Although there has been no suggestion from Verizon that such a leak could affect the deal, it has the potential to devalue Yahoo if customer data is out in the wild and doesn't paint it in a strong light at a time when it wishes to appear worthwhile.

However as the Telegraph points out, it may well have been that Verizon was contacted by the person behind the alleged hack and refused to pay a ransom fee for the data. Supposedly the account information comes from an old 2012 leak, thereby being relatively invalid considering many will have changed their login details since then.

swordfishhack

No word yet on how many monitors the hacker had, but it must have been a lot. Source: Warner Bros.

Indeed when Motherboard attempted to test many of the login details from a random sample, although some appeared to be from legitimate Yahoo accounts, most of them had been closed.

More evidence to suggest the leak isn't anything that exciting for the hacking community, is that the sale price is so low. The details are being advertised at a price of three Bitcoins, or around £1,200 – hardly a king's ransom.

It goes without saying that if you think your Yahoo account may have been compromised, change your password to something new and complicated, and watch out for emails from Yahoo accounts for a few weeks. If they seem suspicious, don't open them.

Discuss on our Facebook page, HERE.

KitGuru Says: Standard password safety practices guys: unique passwords for every service; strong passwords with capitals, numbers and symbols, and change them on a semi-regular basis. 

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Remember, the mighty do fall: Yahoo sells to Verizon https://www.kitguru.net/channel/jon-martindale/remember-the-mighty-do-fall-yahoo-sells-to-verizon/ https://www.kitguru.net/channel/jon-martindale/remember-the-mighty-do-fall-yahoo-sells-to-verizon/#comments Tue, 26 Jul 2016 15:11:37 +0000 http://www.kitguru.net/?p=300587 Yahoo is a name that many of you might not have heard for some time, but it was once one of the biggest players in the online world. But like many of those old guard, it too is now somewhat irrelevant, so it is perhaps fitting that this week it has become just another Verizon property, …

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Yahoo is a name that many of you might not have heard for some time, but it was once one of the biggest players in the online world. But like many of those old guard, it too is now somewhat irrelevant, so it is perhaps fitting that this week it has become just another Verizon property, selling for $5 billion; a fraction of what it was once worth.

At its peak, Yahoo was a company worth around $125 billion. To give you some context to that, it's more than twice Facebook's total equity and only a little less than that of Alphabet, the parent company of Google and its many subsidiaries. And now it's going to become just another feather in Verizon's cap.

At least it will be in good company though. The American telecom giant purchased another internet old-guard last year, in AOL. Together it and Yahoo will provide a core service for older internet users, who like somewhere familiar to read their news and check their email. It is likely that Yahoo's advertising technology and wealth of user data will be much more valuable to Verizon however.

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So what happened?

As the collated history of Yahoo reads in Forbes' in-depth break down, it just missed the mark too many times. Before the Dotcom Bubble burst in the early '00s, it spent $10 billion buying up Geocities and Broadcast.com, choosing to pass on opportunities to buy early versions of both Google and Facebook.

It tried to catch up with the social networking craze over a decade later by buying Tumblr, though three years on from that purchase, the site's value has ‘tumbled' many hundreds of millions.

Marissa Mayer's appointment in 2012 didn't help, with an aggressive purchasing strategy not going far enough to turn around the company's ailing fortunes. Never fear though, she stands to make tens of millions from the sale.

KitGuru Says: Are any of you sad to see Yahoo swallowed up? I've been impressed it still existed for at least a decade, so it's not hugely surprising that it's finally lost enough relevance to sell itself on.

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Verizon may announce Yahoo buy for $5 billion later today https://www.kitguru.net/channel/jon-martindale/verizon-may-announce-yahoo-buy-for-5-billion-later-today/ https://www.kitguru.net/channel/jon-martindale/verizon-may-announce-yahoo-buy-for-5-billion-later-today/#respond Mon, 25 Jul 2016 08:11:24 +0000 http://www.kitguru.net/?p=300288 Although a number of organisations, companies and entities have been vying to buy up long-term online property, Yahoo, the latest rumour suggests that Verizon is the clear front runner. So much so in-fact, that a deal may be announced later today, with a suggested purchase price of around $5 billion. Over the past few months …

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Although a number of organisations, companies and entities have been vying to buy up long-term online property, Yahoo, the latest rumour suggests that Verizon is the clear front runner. So much so in-fact, that a deal may be announced later today, with a suggested purchase price of around $5 billion.

Over the past few months groups as diverse as the Daily Mail's parent firm and a selection of rogue investors, have been tagged as potentially taking over control of Yahoo. However Reuters has heard from a number of its sources that it is in fact Verizon which will make the big play.

If this rumour turns out to be true, Yahoo would likely be used to bolster Verizon's AOL property, giving it one of the strongest portfolios of early internet companies still out there. It would likely utilise Yahoos' robust advertising platform, as well as its less relevant properties like search and email.

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Source: Wikimedia

However some may be surprised at the relatively low purchase price. Yahoo has yearly revenue not too far off this valuation and its entire equity is thought to be close to $30 billion (£23 billion). That said, it has lost billions every 12 months for the past few years, so it isn't in a financially strong position to negotiate from.

Regardless of how Yahoo does in the future though, any buy out would see CEO Marissa Mayer, who was hired in 2012 to try and turn the company around, receive over $54 million as part of her contract.

Discuss on our Facebook page, HERE.

KitGuru Says: As much as Yahoo isn't the powerhouse it once was, it still has a large customer base and perhaps more importantly, a lot of data on consumers. Verizon, if it does buy the company, will no doubt look to leverage that to its advantage. 

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Google and Yahoo investigating 272 million stolen logins https://www.kitguru.net/gaming/security-software/matthew-wilson/google-and-yahoo-investigating-272-million-stolen-logins/ https://www.kitguru.net/gaming/security-software/matthew-wilson/google-and-yahoo-investigating-272-million-stolen-logins/#respond Sat, 07 May 2016 11:56:29 +0000 http://www.kitguru.net/?p=292091 Earlier this week, a security researcher revealed that millions upon millions of Google, Yahoo and Hotmail accounts were being actively traded on the black market. Following on from this news, Google and Yahoo have both said that they are now looking into the breach that saw 272 million account login details stolen. Google didn't have …

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Earlier this week, a security researcher revealed that millions upon millions of Google, Yahoo and Hotmail accounts were being actively traded on the black market. Following on from this news, Google and Yahoo have both said that they are now looking into the breach that saw 272 million account login details stolen.

Google didn't have much to say on the matter when approached by the BBC, simply stating that they “are still investigating” and don't have much more information to share publicly just yet. Yahoo on the other hand were a bit more open about it, saying “We've seen the reports and our team is reaching out to Hold Security to obtain the list of accounts now”, before promising to continually update the situation.

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Image via: Faze Media

Microsoft has also spoke up, as The Inquirer points out, on Wednesday the company said that its webmail security should be able to detect any compromised accounts and that the company would help anyone affected to change their details or regain control of any lost accounts.

This breach first came to light earlier this week, when Hold Security had a chat with Reuters. It turns out that the man behind the security firm stumbled across a young Russian hacker bragging about stealing millions and millions of account details. He was able to talk the hacker into handing the information over in exchange for fame. However, Hold Security is now cooperating with the likes of Google and Yahoo to identify the affected accounts.

KitGuru Says: There is no doubt that this was a huge breach but we still don't have the full story yet as we don't fully know how all of these account details were rounded up in the first place. Hopefully anyone affected by this can get their account security sorted fairly quickly.

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If Yahoo does sell, CEO could receive £37 million payout https://www.kitguru.net/channel/jon-martindale/if-yahoo-does-sell-ceo-could-receive-37-million-payout/ https://www.kitguru.net/channel/jon-martindale/if-yahoo-does-sell-ceo-could-receive-37-million-payout/#comments Mon, 02 May 2016 11:09:12 +0000 http://www.kitguru.net/?p=291271 Considering the fortunes at Yahoo have been tumbling in recent years, it's no surprise that the long-time internet firm is looking for a buyer. If the CEO of the company, Marissa Mayer is let go at any point within a year of the sale however, she will be gifted a $54 (£37) million severance package, something that …

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Considering the fortunes at Yahoo have been tumbling in recent years, it's no surprise that the long-time internet firm is looking for a buyer. If the CEO of the company, Marissa Mayer is let go at any point within a year of the sale however, she will be gifted a $54 (£37) million severance package, something that many analysts believe is far more than she deserves.

Mayer became the CEO of Yahoo in 2012 on a wave of hope that she could turn around the company's ailing fortunes. She was quite aggressive, buying up new companies and selling unprofitable assets that Yahoo maintained, but none of it seemed to make much difference. Yahoo's online influence has continued to fall and its revenue is expected to dip to just $3.5 billion in 2016.

There's been a lot of upheaval at the company but it's now looking like it may sell its core assets to another company before the year is out. If that happens, it's expected that Mayer will be replaced as the senior executive, but if that happens, she'll be awarded a payout of $54 million, almost half of her original five year deal when she became CEO.

yahoo

Mayer has earned close to $100 million since becoming head of Yahoo four years ago,  despite the company's fortunes continuing to tumble. As Ars points out, Yahoo share prices dropped more than a third in 2015, while Mayer pulled in a salary of $14 million – though performance incentives would have nearly tripled that had the stock prices risen.

Mayer would be far from the only executive with a big payout if they were ousted following a sale. The chief revenue officer would get just shy of $20 million, while the CFO would receive a little more than $16 million.

Discuss on our Facebook page, HERE.

KitGuru Says: While nobody is faulting Mayer for getting as much money as she can for the work she does, it's got to be hard for Yahoo employees facing the possibility of losing their jobs, when the executives who had much more influence over the company than they, have such heavy golden parachutes.

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Daily Mail parent company considering Yahoo buyout https://www.kitguru.net/channel/jon-martindale/daily-mail-parent-company-considering-yahoo-buyout/ https://www.kitguru.net/channel/jon-martindale/daily-mail-parent-company-considering-yahoo-buyout/#respond Mon, 11 Apr 2016 10:56:03 +0000 http://www.kitguru.net/?p=289248 Although it may not go it alone, with talks said to be ongoing between the Daily Mail and General Trust (DMGT) and private equity firms, the parent company of the Daily Mail publication is said to be in talks with Yahoo over a potential buyout. This was confirmed by the publication itself, though cautioned that …

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Although it may not go it alone, with talks said to be ongoing between the Daily Mail and General Trust (DMGT) and private equity firms, the parent company of the Daily Mail publication is said to be in talks with Yahoo over a potential buyout. This was confirmed by the publication itself, though cautioned that it was in the “very early stages,” of discussion.

Although seen by many as an antiquated brand and services catalogue, Yahoo is still a dominant force in the tech world, with thousands of employees and revenue close to $5 billion a year. Unfortunately for Yahoo though, that doesn't go very far and it also makes many billions in losses each year.

mail

Source: Wikimedia

Yahoo even extended its preliminary offer period to the 18th April, so the Daily Mail and others have a little longer to get their finances together. Other potential bidders include massive media conglomerate, Verizon.

Why would the Daily Mail want control of it though? Well for starters, the DMGT is more than just the Daily Mail, even if it the publication is the jewel in its crown. It has a huge online presence that would only be augmented by Yahoo's user base and makes a lot of money through advertising, which again, Yahoo would compliment.

It would also give the DMGT an in-road into America (as per TechCrunch), where its user base isn't as strong.

Discuss on our Facebook page, HERE.

KitGuru Says: I'm not sure I'd really notice if Yahoo disappeared inside the Daily Mail machine. Maybe its adverts would get even more click-baity.

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Yahoo investor goes rogue, wants to take over the company https://www.kitguru.net/channel/jon-martindale/yahoo-investor-goes-rogue-wants-to-take-over-the-company/ https://www.kitguru.net/channel/jon-martindale/yahoo-investor-goes-rogue-wants-to-take-over-the-company/#comments Fri, 25 Mar 2016 14:56:19 +0000 http://www.kitguru.net/?p=287995 A major investor of search and advertising giant Yahoo, has announced its intention to take control of the company through dominating the board of directors. To make that happen, it's put forward nine candidates and has asked fellow investment firms to join with it and help those members get elected, effectively giving it a much larger …

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A major investor of search and advertising giant Yahoo, has announced its intention to take control of the company through dominating the board of directors. To make that happen, it's put forward nine candidates and has asked fellow investment firms to join with it and help those members get elected, effectively giving it a much larger seat at the table.

Currently the investor, Starboard Value LP, owns just 1.7 per cent of Yahoo, worth around $570 (£400) million. The company as a whole is worth much closer to $33 billion, so if Starboard was able to take control in any meaningful way, this would be quite unprecedented.

However perhaps the sentiment it has is shared among other investors. It has cited repeatedly its disappointment at the way in which Yahoo is being run and its “dismal financial performance, poor management execution” over the past few years.

starboard

One thing we know for certain, Starboard knows how to take care of its employees dental needs

If it was able to gain control of the company – or some measure of it – Starboard claims that it would be open to new ideas, one being a large scale turnaround, selling off assets and splitting up different parts of the company. In essence, it wants to shake things up a bit (via TechCrunch).

Arguably that's what Marissa Mayer has attempted to do since becoming CEO of Yahoo back in 2012, but clearly not everyone has been fans of her acquisition strategy which has seen the firm buy up various startups and shift its focus to mobile advertising. Starboard would rather she focused her attention on selling off parts of the business – trimming the fat, as it were.

In-fact if it had its way, Starboard might see the entire company sold off. In its declaration of intent, it highlighted how Verizon has shown some interest in acquiring core components of Yahoos business, but that Mayer and the other executives haven't facilitated a furthering of that interest.

It remains to be seen if Starboard can generate much momentum behind its plans for a takeover, or whether if successful it can forge any of its speculative futures into reality, but it does suggest that the future for Yahoo could be a bit more exciting.

KitGuru Says: Although I don't think any consumers are particularly bothered about Yahoo's day to day operation, it is still a major player in the tech and online world. It's going to be interesting to see what happens next.

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Yahoo may be looking to sell off core internet businesses https://www.kitguru.net/channel/jon-martindale/yahoo-may-be-looking-to-sell-off-core-internet-businesses/ https://www.kitguru.net/channel/jon-martindale/yahoo-may-be-looking-to-sell-off-core-internet-businesses/#comments Wed, 02 Dec 2015 11:49:28 +0000 http://www.kitguru.net/?p=276998 Yahoo is an entity that despite having lost its status as a household name perhaps as long as a decade ago, is still a monstrously successful company. At the time of writing it still has total assets worth more than $60 billion and a yearly revenue in excess of $4.6 billion. It's influence is slipping …

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Yahoo is an entity that despite having lost its status as a household name perhaps as long as a decade ago, is still a monstrously successful company. At the time of writing it still has total assets worth more than $60 billion and a yearly revenue in excess of $4.6 billion. It's influence is slipping however and now rumours are suggesting that it may look to sell off many of its core businesses.

Although nothing has been confirmed and Yahoo has declined to comment, the sources Reuters is citing are said to be “familiar with the matter,” as they ever are. They suggest that the businesses Yahoo is most interested in letting go would include its Mail service, sports sites and news entities.

yahoohq

Source: Wikimedia

This move is also said to be part of a greater consideration for the future of the company, which may include ousting CEO Marissa Meyer, who was expected to perform a quick turnaround for the company's dwindling revenues when hired on from Google. She was certainly aggressive, purchasing up entities like Tumblr and even managing to grow its audience by an impressive 40 per cent in just over a year.

Unfortunately for her and Yahoo though, despite the push for more social networking and mobile advertisements, Yahoo's drop off in traditional search and other adverts meant a continually declining bottom line, something that hasn't sat well with shareholders or investors.

Yahoo does still plan to spin off its share in the Alibaba Group, said to be worth around $30 (£20) billion.

Discuss on our Facebook page, HERE.

KitGuru Says: Yahoo is a company that it's always a surprise is still around, but it's certainly kicking along ok, even if it's profits are dipping year on year. Do you think there's any way to turn that ship around?

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Yahoo inks deal with Google to prop up earnings slip https://www.kitguru.net/channel/jon-martindale/yahoo-inks-deal-with-google-to-prop-up-earnings-slip/ https://www.kitguru.net/channel/jon-martindale/yahoo-inks-deal-with-google-to-prop-up-earnings-slip/#comments Wed, 21 Oct 2015 10:45:25 +0000 http://www.kitguru.net/?p=272453 Yahoo announced late yesterday that it had signed a search advertising deal with Google, further enhancing an already existing deal with Microsoft, so that now Yahoo will earn a portion of revenue from adverts displayed in the trio of search engines from all companies. It's hoped that this will help improve the corporation's revenue, which …

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Yahoo announced late yesterday that it had signed a search advertising deal with Google, further enhancing an already existing deal with Microsoft, so that now Yahoo will earn a portion of revenue from adverts displayed in the trio of search engines from all companies. It's hoped that this will help improve the corporation's revenue, which has recently fallen short of market estimates, and paints the current CEO of Yahoo, Marissa Mayer, in a poor light.

Much like Google, a large chunk of Yahoo's traditional revenue comes from advertising. However, as companies like Google continue to expand in that field and new competitors like Facebook, Instagram and other social networking services take a piece of the advertising pie, Yahoo's influence has waned. It's hoped with the new Google deal that even as its competition increases, its revenue will at least expand in certain fields, even if it shrinks in others.

Yahoo's expected revenue for the fourth quarter of 2015 was  $1.33 billion (£860 million) though it is now expected to earn at most $1.2 billion. This, Mayer said, wasn't the result the company wanted, but she highlighted that “legacy portions” of the advertising business were still doing well.

yahoosmiley
Yahoo isn't quite so smiley these days

As Reuters points out, another point of potential growth for Yahoo lies in the possible spin-off of its share in the Alibaba Group, which could be worth as much as $27 billion. It did attempt to dodge potential tax payments from such a deal, but even though the IRS denied it, it looks likely to still go ahead with the move.

The only real silver lining to the earnings call was that Yahoo's advertising sales in mobile and and video saw near 50 per cent growth through the quarter, making it one of the biggest earners for the company.

Discuss on our Facebook page, HERE.

KitGuru Says: Although it's obviously still a huge player in the world of tech, it seems surprising that Yahoo still exists at all. Presumably a lot of people still use its services, but do you know anyone that does?

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Yahoo Mail just killed off passwords https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-mail-just-killed-off-passwords/ https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-mail-just-killed-off-passwords/#comments Fri, 16 Oct 2015 15:55:00 +0000 http://www.kitguru.net/?p=272055 A while back, Yahoo began its move away from traditional passwords by offering users single-use SMS codes to log in to their accounts. Now, things have progressed further, with Yahoo introducing what is called the ‘Account Key', which allows mail users to log in using push notifications on their smartphone, rather than by using a …

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A while back, Yahoo began its move away from traditional passwords by offering users single-use SMS codes to log in to their accounts. Now, things have progressed further, with Yahoo introducing what is called the ‘Account Key', which allows mail users to log in using push notifications on their smartphone, rather than by using a traditional password.

Quite a few companies agree that passwords have become insecure over the years and that we need to move on to better options. Some companies, like Apple, are investing in biometrics, others are linking accounts to smartphones, even Windows 10 offers users the chance to create a PIN, rather than a password for their PC.

yahooMAIL

Yahoo seems to be the highest profile company so far to outright ditch passwords. To use Account Key, Yahoo users need to link their account to a mobile device, then whenever you go to log in, you will get a notification on your phone to approve that access. This way, you can also deny login requests and stop people from accessing your emails.

Aside from all of that, Yahoo users can now log in to their Outlook, Hotmail or AOL mail accounts through the Yahoo Mail app now, with password free logins enabled.

Discuss on our Facebook page, HERE.

KitGuru Says: Passwords aren't that secure, particularly these days. However, l would be interested to see what system Yahoo has in place should someone lose their smartphone or have it stolen. 

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Yahoo to face class action over email snooping https://www.kitguru.net/channel/jon-martindale/yahoo-to-face-class-action-over-email-snooping/ https://www.kitguru.net/channel/jon-martindale/yahoo-to-face-class-action-over-email-snooping/#respond Thu, 28 May 2015 09:42:47 +0000 http://www.kitguru.net/?p=251501 Even though the governments and intelligence agencies of the world can spy on anyone with impunity, at least corporate entities that do the same still have to face the music. In this case it's Yahoo, which stands accused of snooping on emails sent to Yahoo subscribers, from non-Yahoo email accounts, using the information gleaned to …

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Even though the governments and intelligence agencies of the world can spy on anyone with impunity, at least corporate entities that do the same still have to face the music. In this case it's Yahoo, which stands accused of snooping on emails sent to Yahoo subscribers, from non-Yahoo email accounts, using the information gleaned to increase its advertising income.

While part of the Yahoo oversight system was used to combat spam and phishing attempts, it also copied and stored emails for later analysis, combing through phrasing and attachments in order to better target adverts to its near 300 million subscribers, as per Reuters.

yahoo

The tech giant has been attempting to dodge a class-action suit, by suggesting that a number of its customers were aware of the email snooping and consented to it by their continued use of the service. Since they were different than the users that weren't aware of it, Yahoo argued, the two groups were not comparable and therefore couldn't be represented in a class action. But a US district judge in California has now said that anyone who sent or received emails from Yahoo mail users after 2nd October 2011, would be entitled to compensation. She also said that some could sue separately under a breach of the Invasion of Privacy Act.

With more than a million people on the list of potential claimants, no doubt plaintiff lawyer Daniel Girard, is salivating at the chance to become part of such a mammoth case. Even if the payouts to individuals are relatively small, the fact that so many people could require such an amount could make it rack up to 10s of millions of dollars.

Discuss on our Facebook page, HERE.

KitGuru Says: This could be quite a nasty suit, that may even set a precedent for more open communication with customers about email snooping. More likely however it will just force companies to use different methods of email scanning so that they can't be caught out by such a suit. Google previously dodged something similar by doing just that.

Image source: Wikimedia

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Yahoo wants to move to password-free logins https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-wants-to-move-to-password-free-logins/ https://www.kitguru.net/gaming/security-software/matthew-wilson/yahoo-wants-to-move-to-password-free-logins/#comments Mon, 16 Mar 2015 17:09:13 +0000 http://www.kitguru.net/?p=240237 Several tech companies have been working on ways to replace the traditional password for quite a while now, some have moved to biometric scanners, like Apple with Touch ID but Yahoo wants to go in a different direction with mobile phone verification. Yahoo is currently setting up a system for ‘on-demand' passwords. Much like two-factor authentication, …

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Several tech companies have been working on ways to replace the traditional password for quite a while now, some have moved to biometric scanners, like Apple with Touch ID but Yahoo wants to go in a different direction with mobile phone verification.

Yahoo is currently setting up a system for ‘on-demand' passwords. Much like two-factor authentication, you'll be sent a unique time sensitive code via text message every time you want to log in. Some online banking services use a similar method. With these on demand passwords, you won't have a permanent log in tied to your account, instead, a new password will be generated each time.

Yahoo Security

When you go to log in, instead of seeing a traditional password text box, you will be greeted with a ‘send my password' button. This new log in method is actually available now for Yahoo users.

Yahoo Vice President, Dylan Casey, said that the feature was the “first step to eliminating passwords”. However, there are some concerns, while stolen mobile phones can often be tracked, remotely locked or erased, there is still a chance that if your phone fell in to the wrong hands, your account could easily be compromised.

Yahoo's email service has never been the most secure either but the company is currently working on a new end-to-end encryption, designed to make it easier to encrypt emails.

Discuss on our Facebook page, HERE.

KitGuru Says: Personally, I think biometric scanners are the way forward when it comes to replacing passwords. However, it will be interesting to see how people react to Yahoo's new system and if it takes off. That said, a two-factor authentication system would still be safer.

Source: Yahoo
Via: CNET

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