Yahoo to pay $50 million to victims of security breach

Yahoo has agreed to pay $50 million to victims of a security breach, which affected more than three billion email accounts worldwide, TechCrunch reported.

According to a court filing, Yahoo proposed to pay this as compensation to an estimated 200 million users in Israel and the US.

The company will also cover up to $35 million in lawyer fees related to the case, as well as providing affected US users with credit monitoring services for two years via AllClear.

There are also compensation options to claim back costs for losses associated with the hacks for small businesses and individuals, as well as a 25-percent refund for those who paid for premium Yahoo email services.

The deal is subject to final approval at a hearing set for 29 November.

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Yahoo to pay $50 million to victims of security breach