• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

3

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
TechYahoo

Yahoo Hacks: 5 Things We Still Don’t Know

Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
Jeff John Roberts
By
Jeff John Roberts
Jeff John Roberts
Editor, Finance and Crypto
Down Arrow Button Icon
March 17, 2017, 1:04 PM ET
Fortune Global Forum - Day 2
SAN FRANCISCO, CA - NOVEMBER 03: Marissa Mayer speaks during the Fortune Global Forum - Day2 at the Fairmont Hotel on November 3, 2015 in San Francisco, California. (Photo by Kimberly White/Getty Images for Fortune)Kimberly White—Getty Images for Fortune
Add Fortune on Google for similar content.

The Justice Department dropped a stunner of a document this week that revealed how Russian spies worked with common criminals to strip mine information from millions of Yahoo user accounts. In a 39-page indictment, the government revealed new details about the colossal data breach, plus some bizarre tidbits—like how one of the hackers used the Yahoo (YHOO) information to also push erectile dysfunction drugs.

The unsealed indictment and a press conference by the federal government announcing cyber crime charges against four men explains a lot about who hacked Yahoo and how they did it. But there are still some major questions for which both consumers and investors need answers. Here are five things we have yet to learn:

What about the 1 billion accounts hacked in 2013?

The Justice Department news is about the hack of 500 million accounts—everything from email to fantasy sports services—that took place in 2014, and which Yahoo disclosed in September. The announcement, however, was oddly silent about an even bigger breach of 1 billion accounts that took place in 2013, and which the company disclosed in December.

What’s the story? Was the 2013 hack unrelated to the allegedly state-supported Russian intrusion of 2014? Or is it possible the 2013 attack was also carried out by Russian criminals like the main culprit named in this week’s indictment without government involvement? If the latter theory is correct, it would undercut the argument the Yahoo hack was “state sponsored” in origin—and makes it more likely the hacks are another example of the Kremlin spy machine piggy-backing on the work of cyber-criminals.

Who are the unnamed executives and companies that got hit by the hackers?

The Russian hackers allegedly broke into the Yahoo accounts of senior executives at big U.S. companies, including a major airline and a financial firm. If this is the case, they could have obtained all sorts of sensitive corporate information, especially if (as is not uncommon) the executives used these non-work emails to communicate with key staff.

The indictment also describes how the hackers gained access to the “Yahoo users’ accounts of three different offices of U.S. Cloud Computing Company 1.” Obviously, it’s not possible to know which cloud company this is—it could be anyone from Amazon (YHOO) Web Services to Salesforce to Microsoft (MSFT) to some other firm. But it’s worth noting the infiltration of their executives’ Yahoo accounts could be a stepping stone into breaking into their corporate accounts, and gaining access to information about the cloud company’s customers.

Get Data Sheet, Fortune’s technology newsletter.

Why did the Justice Department announce this now?

There have been leaks for months that the Justice Department was investigating the Yahoo hacks, so the news of the indictment was not a huge surprise. But given how political the topic of Russian hacking has become, it’s worth asking why the agency chose this week to announce it.

It’s possible the timing simply coincides with the end of the investigation. But a person with ties to the Justice Department, who was not authorized to speak for attribution, said the timing may be more deliberate. Specifically, this person said many suspect the Yahoo file have come to the attention of new Attorney General Jeff Sessions, who then pressed to publicize it to show he and the Trump Administration want to take a hard line on Russian hacking.

Who at Yahoo knew about the hacking—and when?

This remains the most burning and sensitive question of all. Since it disclosed the attacks in September, Yahoo has been coy (to put it politely) about what happened. The company has conceded it first learned of the breach in 2014, but it also suggested the matter somehow never reached the level of importance to notify senior management.

CEO Marissa Mayer is sticking to her story that she learned of the attack shortly before everyone else, including <a href="https://fortune.com/2017/02/21/yahoo-verizon-hacking-deal/">Verizon</a> (VZ), which by then had decided to buy the company. And in early March, Mayer basically made Yahoo lawyer Ron Bell the fall guy for the whole incident—a move that was lambasted on social media and by prominent tech journalist Kara Swisher.

If this official account is true, it still doesn’t explain who first learned of the account hacking, and how far up the executive chain the news traveled. This week’s news shed no light on the matter—but it’s a good bet class action lawyers will use the legal discovery process to reveal what actually happened.

What will the SEC do?

The Justice Department’s announcement takes care of the criminal side of the Yahoo breach, even if three of the four hackers are unlikely to ever see a U.S. jail cell, since they are in Russia.

But there is also a second major investigation swirling around the Yahoo incident, one that is reportedly being carried out by the Securities and Exchange Commission. The SEC probe turns on whether the company broke the law by failing to disclose the breach to investors, who were left holding Yahoo shares as news of the disaster trickled out.

The plot became thicker this week as an FBI agent told Ars Technica, “Yahoo was under no government mandate not to tell customers of the breach.” If this other shoe drops, the SEC fallout for Yahoo could be painful.

About the Author
Jeff John Roberts
By Jeff John RobertsEditor, Finance and Crypto
LinkedIn iconTwitter icon

Jeff John Roberts is the Finance and Crypto editor at Fortune, overseeing coverage of the blockchain and how technology is changing finance.

See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Tech

MoonPay launches universal AI shopping wallet for non-technical Claude and ChatGPT consumers
CryptoAI agents
MoonPay launches universal AI shopping wallet for non-technical Claude and ChatGPT consumers
By Jeff John RobertsJuly 23, 2026
2 hours ago
AI coding company Cursor, soon to be acquired by SpaceX, expands its CFO council
NewslettersCFO Daily
AI coding company Cursor, soon to be acquired by SpaceX, expands its CFO council
By Sheryl EstradaJuly 23, 2026
2 hours ago
ServiceNow CEO Bill McDermott pumping his fist.
AIServiceNow
Wall Street is finally starting to buy ServiceNow CEO Bill McDermott’s story as the company beats Q2 earnings forecasts
By Jeremy KahnJuly 23, 2026
2 hours ago
Moonshot, DeepSeek, and the Great Chinese AI IPO Rush
Startups & VentureTerm Sheet
Moonshot, DeepSeek, and the Great Chinese AI IPO Rush
By Nicholas GordonJuly 23, 2026
3 hours ago
Paul Keary (L) and Mike Sutcliff (R).
CommentaryAI agents
Teneo & Thoughtworks CEOs: the AI race will be won with governance, not speed 
By Paul Keary and Mike SutcliffJuly 23, 2026
3 hours ago
marks
CommentaryNational Security
General James ‘Spider’ Marks: there’s a strategic risk hidden inside closed AI systems
By James MarksJuly 23, 2026
3 hours ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
22 hours ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
3 days ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
19 hours ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
2 days ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
2 days ago
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
Cybersecurity
OpenAI says its AI models secretly broke out of a secure test environment and hacked into AI company Hugging Face in order to cheat on an evaluation
By Jeremy Kahn and Emily ForliniJuly 21, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.