Yahoo Wins the Gold Medal & Silver Medals for Worst Hacks in History (Essay Sample)

M3A1: Case Study: Textbook Case 5.1 Yahoo Wins the Gold Medal and Silver Medals for the Worst Hacks in History!
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Abstract
Yahoo as a web service provider has severally become a hack victim among its data users. In 2012, the company noticed the foremost data breach incidences reported to have happened nearly six times parallel to another. Yahoo established that a total of 3 billion accounts were impacted during the cybersecurity cases. In the course of the past eight years, Yahoo received the most considerable data breaches from its network service providers globally. The aspects impacted include business-wise, public reputation and financially. The organizational profits dropped while its operational expenses expanded especially resulting from the maintenance costs required to curb such attacks. Likewise, the advertising campaigns were weakened making Yahoo to run into losses.
Introduction
Yahoo Inc. is a well-known American web service provider that Verizon Media owns. In 1994, the company got established and in 1995 was incorporated. Yahoo offers search engine and web portal services including news, finance, mail, messenger, sports, answers, and search. Famed as the early internet explorer’s era during the 1900s, Yahoo also is the historical and worst hacks winner of the gold and silver medals. This paper provides an exploration and self-reflection on Yahoo’s response to prevent the looming cyberattack and hacks.
Overview of the matter
On different occasions Yahoo Voices and servers have reported targeted phishing attacks from third parties on different users. In 2012 July, the first information breach occurred as hackers obtained cached e-mail addresses thereby encrypting received passwords. The problem was linked to weak security systems that affected approximately 400,000 users (Condliffe, 2016). Again, in 2013 a different hacking episode happened leaving may Yahoo Mail users with hijacked accounts (Condliffe, 2016). In 2014, the next incident encompassed hackers using personal credentials to access accounts and acquire additional email addresses. At this time, 500 million accounts became affected through cached data including names, encrypted passwords, telephone numbers, dates of birth, e-mail addresses, and unencrypted or encrypted security answers and questions. In 2016 December 14, Yahoo displayed another big security breach as announced by the chief information security officer (McAndrew, 2018). The organization presumed that the basis of this hack was forged cookies used for accessing the accounts without passwords.
Consequences of Yahoo’s attacks
Vulnerability pushed Yahoo to risk millions of service users’ personal information to theft due to hacking incidences. The attacks impacted Yahoo! Inc.’s financial reports with the 2014 financial reports showing $1.23 billion worth of loss during the 2nd quarter (Thomas, 2016). The decline resulted since many of the affected account owners resigned from using this company’s services and dropped the accounts. Yahoo dismissed 15percent of its workforces in 2015 to curb this loss and changed some of its processes to minimize potential future attacks. The move was succeeded by doubling of its internal security personnel in combination with inputting $260 million initiatives for tightening the security (Ali, 2017). The web service included a feature notifying all users if someone recently logged into the accounts remotely without authentication thereby can be logged out.
My Position on cyberattack
Like any Yahoo email account owner and being in business management field, based on the company’s incidents I believe regaining customers trust will be challenging. Unfortunately, I understand that when a company losses clients the ultimate profits decline (Efraim & Wood, 2020). Information. For that reason, perhaps Yahoo should find a solution to attract and retain its customer base. I know by investing in stronger security systems including firewall, anti-virus software, and two step verifications prevention of potential phishing attacks. Consequently, the firm will prevent hackers or third parties from entering personal spaces and access to data (McAndrew, 2018). I think the costs associated with software creation must be considered to be additional however its returns are worthy. Besides, Yahoo alongside other organizations storing personal data, must back-up the users’ information. That means whenever data theft occurs, the information can still be retrieved.
Conclusion
Yahoo’s case study