Thursday, 10 November 2016

On 02:10 by admin   No comments
Yahoo admitted Wednesday that some of its employees were aware that a state-sponsored hacker had breached its network not long after the 2014 hack, casting a larger shadow over Verizon's $4.8 billion deal to acquire the company.

Yahoo said in September that an investigation in August had uncovered the theft of personal information associated with at least a half billion Yahoo accounts, the biggest data breach in history. The company said at the time that it discovered the massive hack after a probe into a hacker's claimed in August to have breached 200 million Yahoo usernames and passwords from a hack in 2012.

But a Yahoo filing with the US Securities and Exchange Commission on Wednesday revealed that at least some within the company were aware of the intrusion two years earlier.

"An Independent Committee of the Board, advised by independent counsel and a forensic expert, is investigating, among other things, the scope of knowledge within the Company in 2014 and thereafter regarding this access," Yahoo said in its filing. But it wasn't until its August probe that the company got confirmation of the extent of the breach, a source with knowledge of the investigation said.

The massive hack was allegedly uncovered a month after Verizon announced plans to acquire Yahoo for $4.83 billion and merge it with AOL. The revelations led to questions about the viability of the acquisition with the wireless carrier's general counsel telling some reporters in October that Verizon was leaning toward declaring the data breach a "material event." That likely means Verizon wouldn't have offered as much money -- or made a bid for Yahoo at all -- had it known about the hack earlier.

Yahoo acknowledged that possibility in its filing, noting that Verizon "may seek to terminate the Stock Purchase Agreement or renegotiate the terms of the Sale transaction on that basis."

Yahoo declined to comment further beyond its filing, citing its ongoing investigation. Verizon also declined to comment.

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