FIRST AIRED: October 4, 2017

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Transcript

00:00:00
>> A big hack has come back to haunt Yahoo. This is Jonathan Weber with Reuters News. 3 billion accounts were affected by a hack that took place 4 years ago. The company had previously said 1 billion accounts were affected, so now we have 3 times as many accounts.
00:00:16
Now the truth is that Yahoo never had 3 billion customers. That number includes a lot of duplicate accounts and dormant accounts. But it does show that this hack was much worse that Yahoo had even said. It took them a long time discover it in the first place, almost three years.
00:00:31
They disclosed it very shortly before the purchase agreement with Verizon was completed, so Yahoo was sold Verizon. In the immediate aftermath of that, more information emerged about this hack. The price of the deal was actually reduced as a consequence. And now we find out that the hack is yet even worse than they had said.
00:00:53
So this is not going to affect the merger obviously, which is already done, but it could affect some of the lawsuits that are out there about this hack. There's a class-action lawsuit, and this will certainly give more fuel to that lawsuit. And it's certainly rather humiliating for all the people involved, that after all this time, they still can't quite seem to figure out the extent of a hack that took place four years ago.