Yahoo will pay 50 million dollars to victims of the massive data leak which jeopardized the private data of three billion accounts between 2013 and 2014, according to the AP.
The settlement specifically involves about one billion of those accounts belonging to approximately 200 million people in the US and Israel who will also get two years of free credit-monitoring from Yahoo.
Yahoo parent company Verizon is due to pay for one half of the settlement cost, while the other half will be paid by Altaba Inc., which was established after the news on the data breach affected Yahoo's takeover process in 2016.
"Claims for a portion of the 50 million dollar fund can be submitted by any eligible Yahoo account holder who suffered losses resulting from the security breach. The costs can include such things as identity theft, delayed tax refunds or other problems linked to having had personal information pilfered during the Yahoo break-ins," the AP said in a report.
Netizens have meanwhile been quick to react to the news with some doubting that those users who were affected by the 2013 security breach will get the compensation money and that "the attorneys will keep a big portion of the sum."
35 million for the lawyers, no wonder they took such a trash deal XD— Win (@WinnerDankie) 24 октября 2018 г.
Oh, your entire life identity got stolen? Here’s a gift voucher for $350— flowerpower (@tinhimai) 24 октября 2018 г.
Each user’s data = $0.015625— XRPGoat (@XrpGoat) 24 октября 2018 г.
Warm. And. Fuzzy.
Hopefully they have insurance. No? Where is the CRO?— Diane S. Baker (@dianesbaker1) 24 октября 2018 г.
I hope Marrisa Myers should pay some. She was CEO— Mat Ratra (@ratram1) 23 октября 2018 г.
No web site is safe from security breach.— LRFalstad (@LRFalstad) 24 октября 2018 г.
Can they just give the money straight to the people that got their emails exposed? I’d take that over some credit reporting— matthew (@mymeowmeow1) 23 октября 2018 г.
Who is going to want credit monitoring service from a company who just had major data breaches?— ProtectCivilRights (@StopLordDampnut) 23 октября 2018 г.
Math does not add up. And the attorneys will keep a big portion of it anyway once legal costs are subtracted— Autar Kaw (@numericalguy) 23 октября 2018 г.
50M/200M. Isn't that more like 25 cents each?— John Desmond (@uncle_lefty) 23 октября 2018 г.
In another development that year, the Russian President's spokesman Dmitry Peskov said that Moscow had not received official information from the US on the indictment of four Russian nationals over the 2014 data theft from Yahoo.