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Yahoo pledges £90m to data breach compensation fund

Yahoo has pledged $117.5m (£90m) towards compensating the victims of a series of huge cyber attacks that struck the company between 2013 and 2016.

One of the attacks compromised the personal information of all three billion user accounts, making it the single biggest data breach in history.

The proposed settlement is the second Yahoo has put forward to date and must now be approved by a district judge in the US.

It comes after an initial offering was rejected earlier this year because the company had failed to specify the size of the compensation package.

The revised package includes $55m for compensating victims and a further $24m for credit monitoring. Verizon said in a statement: “The settlement demonstrates our strong commitment to security.”

Yahoo merged with AOL in 2016 after it was acquired by Verizon for $4.48bn. The telecoms giant has since written down the value of the merged entity, Oath, from $10bn to £200m.