Things might be about to get worse for the ailing tech company Yahoo. A new report claims that in the near future, Yahoo is going to confirm a massive security breach which ended up compromising personal information of hundreds of millions of its users. The extent of the breach is unclear at this point in time but reports suggest that the hack was widespread and serious.
Citing several sources close to the situation, Recode reports that Yahoo is going to confirm this massive security breach soon. Yahoo did say earlier this year that it was investigating a potential security breach after some hackers claimed to have accessed 200 million user accounts and one was even willing to sell all of them online.
One source who spoke to the scribe says that this security breach is “as bad as that,” and that it really may be worse than this. Yahoo hasn’t commented on this report as yet but it’s expected to officially announce the back later this week.
It remains to be seen what implications will the official confirmation have with the ongoing sale of Yahoo’s core business to Verizon for $4.8 billion. The deal has not yet been closed as regulatory bodies have yet to clear it and the fallout from such as massive hack could give shareholders cause for concern regarding adjustment of the transaction price.