Those who have a Yahoo account between 2012 and 2016 may claim $100 and up to $25,000 from the $117.5 million settlement fund. The settlement, however, is only for individuals who are residents of these two countries.
Yahoo admitted in 2016 that it suffered from a series of data breaches between 2012 and 2016 that compromised more than 3 billion accounts.
Sensitive Data Stolen
Hackers were able to gain access to users' sensitive data, which include names, addresses, telephone numbers, birthdays, the encrypted and unencrypted security questions and answers, as well as passwords.
The Yahoo hack has since been considered as one of the worst of all time affecting many people. Given the sensitive information involved, the hack also potentially caused substantial damage.
"The company recently obtained new intelligence and now believes, following an investigation with the assistance of outside forensic experts, that all Yahoo user accounts were affected by the August 2013 theft," Verizon, which acquired Yahoo's core internet assets, said in 2017.
Settlement For Affected Users
The company faced class action lawsuit as a result of the data breaches. Now, as part of the settlement, individuals who had a Yahoo account between 2012 and 2016 when the breaches happened can claim $100.
Those who suffered considerable damage may even claim more. Individuals who can provide proof they suffered from financial damages as a result of the breach may file a claim of up to $25,000 from the $117.5 million settlement fund.
"You may additionally provide documentation or proof to receive reimbursement of up to $25,000.00 in out-of-pocket losses, including lost time, that you believe you suffered or are suffering because of the Data Breaches," the settlement website reads.
Limited To Users In US And Israel
According to Yahoo's settlement website, those claiming from the settlement may opt for two years free credit monitoring or the $100.
Not everyone with a Yahoo account can claim though. Only US or Israel residents who had a free Yahoo account anytime from 2012 to 2016 are eligible for the credit monitoring or cash option.
The final amount may also be more or less than $100 depending on the number of people who file claims. The actual payouts for all claims could be much lower if the total amount claimed exceeds the $117.5 million allocated for the settlements.
The claims should be made on or before July 20, 2020.