The Department of Justice is set to reveal the charges for the people behind the hacking of web portal Yahoo on Wednesday, March 15. Three of the suspected hackers are said to come from Russia while the other one is from Canada. The incident caused a massive security breach on the one billion users’ accounts online.
The United States has already arrested one of the suspects of the hacking incident yesterday. The suspect confirmed that the other three companions are still in Russia.
The suspected hackers made use of the “forged ‘cookies’,” which are small codes kept in a browser’s cache so as not to require repeat logins. These may be used to allow hackers to break into any user’s account without the use of a required password. According to Yahoo’s chief information security officer, Bob Lord, this security breach could be connected with the stealing of Yahoo’s proprietary code.
The said hacks may cause the decline of Yahoo’s sales in its operations connected to Verizon Communications, which cost $350M discount on the deal price. Verizon is expected to close this deal with the total price of $4.83B to be paid in cash.
The 21-year-old brand of Yahoo will continue to be run under the company Verizon. Yahoo will also be combined with AOL soon.
Hacking has been one of the oldest digital professions on the Internet. Hackers are highly trained and skilled to enter computer systems and break into user accounts on any web portal. There are four main types of hackers: security hackers, white hats (hired to keep data safe), gray hats (usually hack for fun), and the black hats (those who hack for malicious intents).
In July 2016, Verizon is set to acquire the main internet assets of Yahoo, which includes sports and finance.
There were also two huge security breaches that happened to Yahoo a few years back. In December 2013, hackers were able to extract confidential information of the users’ birthdates, passwords, and email addresses. The said information could be used in accessing more personal information online even on other sites. A year after the incident in September, Yahoo reported another breach in their security by a suspected “state-sponsored actor,” which was responsible for the hacking of five hundred million user accounts.
Yahoo’s chief executive officer, Marissa Mayer, was not given a cash incentive for 2016 due to the said hacking incident. Since she was the company’s CEO at the time of the incident, she agreed to give up her annual bonus. She also requested that her annual bonus be redistributed to Yahoo’s dedicated employees.
Another Yahoo executive, Ronald Bell, resigned on Wednesday without separation payments as filed in the Securities and Exchange Commission.
The security breaches in Yahoo’s company have caused them millions in handling all investigative and legal actions for the hacking incident. Forty lawsuits have been made. Yahoo still continues to work hand-in-hand with the U.S. Securities and Exchange Commission, Federal Trade Commission, the Manhattan U.S. Attorney’s Office, and two state lawyers to resolve the issue.