Yahoo data breach: Here’s how much users could get paid in settlement

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Yahoo data breach: Affected users could get paid in settlement
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The Yahoo data breach that occurred in 2013-2014 is finally coming to a resolution — and if you had an email account at that time, you could get $100 or more.

In a settlement, Yahoo has agreed to fork over upwards of $85 million, with $50 million of that going to users and the rest to attorneys, according to the Associated Press.

As part of the conditions of the deal, qualifying users will also be able to get at least a couple years of free credit monitoring from AllClear ID. The accord, part of a class-action lawsuit, covers up to 200 million people who had a Yahoo Mail account between 2012 to 2016.

As with other major data breaches, Yahoo, which became part of Verizon last year, didn’t immediately disclose the massive hack. Four years later, Yahoo said all 3 billion accounts could have had their personal information exposed to criminals, exposing them up to fraud and identity theft.

Yahoo data breach: Here’s what kind of money users could get

While most users may qualify for $100, there is a way that you could get more than three times that. Here are the details as explained in tech site The Verge:

The $50 million number translates into $25 per hour each account holder spent dealing with the consequences of the breach. The settlement puts the estimate at 15 hours for those [who] suffered losses like identity theft and just five hours for others. Depending on whether you can document your losses or not, you can claim up to $375 or just $125. If you had a premium Yahoo email account, you can get a 25 percent refund on the subscription.

In addition to that sum, if you can prove that the Yahoo data breach harmed your business and you had a business email account, you could get a 25% refund for fees you paid during the time of the hack.

Yahoo data breach: How to file a claim

How users impacted by the hack can file a claim is yet to be determined.

The preliminary settlement will go before a judge on November 29, where it is expected to be approved, the Associated Press reports. Yahoo will then comply with the terms by notifying users how they can collect their money.

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Craig Johnson is a conscious money-saver who still reads paperback books and listens to vinyl. He likes to write about how technology is making things easier and more affordable — but also sometimes more dangerous — for the modern consumer. You can reach Craig at [email protected]
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