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As part of those terms, Verizon agreed to share regulatory liabilities for both the 2013 data breach, and a second data breach revealed to have affected 500 million accounts in 2014.

Verizon's CISO Chandra Mc Mahon said that the company is "committed to the highest standards of accountability and transparency, and we proactively work to ensure the safety and security of our users and networks in an evolving landscape of online threats".

"Cybercrime is not only a grave threat to personal privacy and security, but causes great financial harm to individuals who are hacked and costs the world economy hundreds of billions of dollars every year." "With the assistance of our law enforcement partners in Canada, we were able to track down and apprehend a prolific criminal hacker who had sold his services to Russian government agents.

This prosecution again illustrates that we will identify and pursue charges against hackers who compromise our country's computer infrastructure." So far, Baratov is the only person to have been arrested, although the warrants against the FSB agents still stand.

"We now know that Russian intelligence officers and state-sponsored hackers were responsible for highly complex and sophisticated attacks on Yahoo's systems," she said.

She said the Department of Justice and the FBI announced a 47 count indictment charging four individuals with crimes against Yahoo and its users.

Given his charge sheet, he could potentially face up to 24 years in jail.

"The illegal hacking of private communications is a global problem that transcends political boundaries," said US attorney Brian Stretch, announcing the guilty plea.

It's really mind-numbing when you think about it." Rich Campagna, CEO at Bitglass, said that a hack affecting the entirety of a company's customer base is something unprecedented in the industry."Our investment in Yahoo is allowing that team to continue to take significant steps to enhance their security, as well as benefit from Verizon's experience and resources." However, Yahoo currently faces as many as 43 class-action lawsuits from both the 20 hack, according to a company filing in May, a figure that is almost certainly going to increase.John Yanchunis, the lawyer representing Yahoo customers, said the cases had stalled because a federal judge required more information to legal justify the claims of his clients."The threat from state-sponsored attacks has changed the playing field so dramatically that today I believe all companies, even the most well defended ones, could fall victim to these crimes." Despite this, the ex-CEO of Yahoo told the committee that the company has not been able to identify how the attackers stole the data.Karen Zacharia, Verizon's chief privacy officer, told the hearing that after Verizon had acquired Yahoo it obtained new information from a third party regarding the attacks and promptly conducted a review.

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