Yahoo! Inc. Expected to Confirm Huge Data Breach


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Yahoo! Inc. (NASDAQ: YHOO ) is expected to announce a huge data breach of user information.

Yahoo, Data Breach, YHOO Source: Flickr

Insider sources are claiming that the internet search company will announce a data breach that impacts a few hundred million of its users. The data breach was first heard about when a hacker known as "Peace" posted information for 200 million Yahoo accounts for sale on the dark web.

Peace posted the sale of the Yahoo accounts in August. The hacker claimed that it included usernames, encrypted passwords and other information. Those close to the matter claim the hack is just as bad, if not worse, than what was revealed last month.

Yahoo is expected to announce the data breach sometime this week. The company started investigating reports of the hack in August, but didn't require users to reset passwords. Now it may have to do that. This all comes as it prepares for a sale to  Verizon Communications Inc. (NYSE: VZ ) and it could complicate the process, reports Recode .

"Regulators should be concerned with who will take responsibility for the response to this compromise," Tim Erlin, senior director of IT security and risk strategy at computer security firm Tripwire, told USA Today . "It can be easy for the 'right thing to do' to slip through the cracks in a multi-billion dollar transition."

Verizon's offer for Yahoo is currently sitting at $4.8 billion. However, that could change if the search company announces the massive data breach.

YHOO and VZ stocks were up slightly as of Thursday morning.

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The post Yahoo! Inc. Expected to Confirm Huge Data Breach appeared first on InvestorPlace .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing , Stocks
Referenced Symbols: YHOO , VZ

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