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South Korea To Ban Crytocurrency Trading

January 12, 2018 by  
Filed under Around The Net

South Korea’s government has announced it will ban cryptocurrency trading, sending bitcoin prices plummeting and throwing the virtual coin market into turmoil as the nation’s police and tax authorities raided local exchanges on alleged tax evasion.

The clampdown in South Korea, a crucial source of global demand for cryptocurrency, came as policymakers around the world struggled to regulate an asset whose value has skyrocketed over the last year.

Justice minister Park Sang-ki said the government was preparing a bill to ban trading of the virtual currency on domestic exchanges.

“There are great concerns regarding virtual currencies and the justice ministry is basically preparing a bill to ban cryptocurrency trading through exchanges,” Park told a news conference, according to the ministry’s press office.

After the market’s sharp reaction to the announcement, the nation’s Presidential office hours later said a ban on the country’s virtual coin exchanges had not yet been finalized while it was one of the measures being considered.

A press official at the justice ministry said the proposed ban on cryptocurrency trading was announced after “enough discussion” with other government agencies, including the nation’s finance ministry and financial regulators.

Once a bill is drafted, legislation for an outright ban of virtual coin trading will require a majority vote of the total 297 members of the National Assembly, a process that could take months or even years.

The government’s tough stance triggered a selloff of the cryptocurrency on both local and offshore exchanges.

The local price of bitcoin plunged as much as 21 percent in midday trade to 18.3 million won (12,730.35 pounds) after the minister’s comments. It still trades at around a 30 percent premium compared to other countries.

Bitcoin BTC=BTSP was down more than 10 percent on the Luxembourg-based Bitstamp at $13,199, after earlier dropping as low as $13,120, its weakest since Jan. 2.

 South Korea’s cryptocurrency-related shares were also hammered. Vidente and Omnitel, which are stakeholders of Bithumb, skidded by the daily trading limit of 30 percent each.

Once enforced, South Korea’s ban “will make trading difficult here, but not impossible,” said Mun Chong-hyun, chief analyst at EST Security.

“Keen traders, especially hackers, will find it tough to cash out their gains from virtual coin investments in Korea but they can go overseas, for example Japan,” Mun said.

Park Nok-sun, a cryptocurrency analyst at NH Investment & Securities, said the herd behaviour in South Korea’s virtual coin market has raised concerns.

Indeed, bitcoin’s BTC=BTSP 1,500 percent surge last year has stoked huge demand for cryptocurency in South Korea, drawing college students to housewives and sparking worries of a gambling addiction.

“Some officials are pushing for stronger and stronger regulations because they only see more (investors) jumping in, not out,” Park said.

By Thursday afternoon, the Justice Ministry’s announcement had prompted more than 55,000 South Koreans to join a petition asking the presidential Blue House to halt the crackdown on the virtual currency, making the Blue House website intermittently unavailable due to heavy traffic, the website showed.

Is The iPhone X The Best Smartphone

January 12, 2018 by  
Filed under Mobile

Realizing that few people were buying the iPhone X despite being told it was wonderful, the Tame Apple Press decided to carry out an investigation to discover why. 

A CNET reporter visited four carrier stores to ask their salesmen if they’d recommend an iPhone X. But after visiting stores for Sprint, T-Mobile, AT&T, and Verizon, “I couldn’t even find a salesperson to tell me it was the best iPhone I could buy,” he whined.

Realizing that no sane customer loving sales person would recommend an Apple product he thought he would go to an Apple store instead. There, at least a Genius recommending the most expensive product on the list could reassure him.

Unfortunately not even in Apple land could he find anyone dumb or brainwashed enough to recommend the iPhone X.

“Well, it depends on what you like… The biggest problem I have with it is using Face ID for Apple Pay. You really have to put the phone at a certain angle or it doesn’t work.”

The reporter was outraged at the genius’s sales pitch. “He started with a problem. I was already suspicious. I was in something of a hurry, but I asked him: “So are you selling a lot more of these than other phones?”

The sales genius suddenly sounded like a politician, moaned the hack. “All our phones sell well,” he said. Which sounded not entirely reassuring. Indeed, it sounded like a “no.”

Another Apple store “Genius” (who was testing his iPhone 6), CNET’s reporter was told that “The X and the 8 are the same phone… Inside, I mean. With the X, you’re just paying the extra money for the design.”

The hack noted that the salesman’s $999 iPhone X was wrapped in an ugly pink case, because after four weeks he’d already cracked it. And a third Apple salesman — who touted the glories of an OLED screen — also kept his iPhone X in a case at all times “It’s glass,” he explained. “You’ll definitely need a case.”

This means that you can’t see the lovely phone and show it to your friends, so they can see how beautiful it is, moaned the hack.

“Get a see-through case,” the Apple staff member advised.

Sales of the iPhone X are proving disappointing and it looks like Apple’s get punters to pay more for less strategy is finally not working.

Courtesy-Fud

is The iPhone X Selling As Expected

December 29, 2017 by  
Filed under Mobile

The numbers for the iPhone X are well down on what was expected with only 30 million units sold in the fourth quarter of 2017 and the figure is expected to drop slightly in the first quarter of 2018.

 This number was dug up by Digitimes which has been asking its chums in the semiconductor packaging and testing service industry.

The sources pointed out that the pre-orders for the iPhone X in some markets such as Taiwan, the US and Singapore, are not as strong as expected.

The poor iPhone X performance is unlikely to hurt Apple much. The markup on the phone is so high that Apple is still coining it in.  However, it does show that there is still a general slump in things Applish. 

Because of the iPhone X’s weak performance, the upstream supply chain has been rumored that Apple is planning three new smartphones for 2018 with two using OLED displays and one LCD display, and the 3D sensing functionality may be more broadly used in these devices.

Apple is also rumored to adjust its pricing for iPhone devices in early 2018 and has even started preparing a prototype iPhone with the support of pre-5G features.

Whether or not that will be enough to save the iPhone, is hard to say.  People are generally starting to wake up that the iPhone is behind in technology terms and price.

Courtesy-Fud

Are Smartphone Hazardous To Your Health

December 21, 2017 by  
Filed under Mobile

There is some bad news for Apple fanboys who take their mobile phone to bed with them so that they will dream that Siri is a real girlfriend. It could be that this behavior is just nature’s way of taking you out of the gene pool.

The California Department of Public Health (CDPH) issued a warning against the hazards of mobile radiation this week. It is asking people to stop using the devices and keeping them as far away from your body as possible.

The warning comes after findings were offered up this week from a 2009 department document, which was published after an order from the Sacramento Superior Court.

A year ago, UC Berkeley professor Joel Moskowitz initiated a lawsuit to get the department to release the findings after he started looking into whether mobile phone use increased the risk of tumours. A draft of the document was released in March, but the final release is more extensive.

According to the Federal Communication Commission’s website, there is no national standard developed for safety limits.

However, the agency requires cell phone manufacturers to ensure all phones comply with “objective limits for safe exposure.”

The CDPH recommends not keeping your phone in your pocket, not putting it up to your ear for a prolonged amount of time, keeping use low if there are two bars or less, not sleeping near it at night and to be aware that if you are in a fast-moving car, bus or train, your phone will emit more RF energy to maintain the connection.

Courtesy-Fud

T-Mobie TV Coming Next Year

December 15, 2017 by  
Filed under Mobile

T-Mobile US Inc announced that it would launch a new streaming television service next year after buying startup Layer3 TV for an undisclosed amount.

The moves come as competitors seek ways to provide content to win over customers in a saturated mobile market, and after the No. 3 U.S. wireless carrier and No. 4 rival Sprint Corp ended merger talks last month.

 T-Mobile Chief Financial Officer Braxton Carter said last week at an investor conference that the company would now focus on smaller, “tuck-in” acquisitions.

T-Mobile plans to launch a subscription service with advertising next year using Layer3’s technology platform and relationships with content providers. The company will create a “variety of offers,” some low cost, its executives said on a conference call with reporters.

While T-Mobile will not rule out original content, it will not be a focus to start, Chief Operating Officer Mike Sievert said.

Sprint in November said it would offer unlimited data plan customers free subscriptions to the streaming service Hulu LLC, two months after T-Mobile introduced a similar offer with Netflix Inc.

AT&T Inc, which is in the process of buying Time Warner Inc for $85.4 billion, has already started bundling the premium channel HBO with wireless service.

T-Mobile’s service will enter a crowded market for online television streaming that includes competitors such as AT&T’s DirecTV Now and Dish Network Corp’s Sling TV.

The wireless carrier said it expected its 17,000 retail stores and more than 30 million smartphone shipments per year to help drive customer trials.

 “We believe the near-term revenue and profitability outlook will be more muted as T-Mobile scales the product and integrates it with their wireless customer base,” said Jennifer Fritzsche, analyst at Wells Fargo, in a research note. “But we would not underestimate T-Mobile longer-term in the TV space after the disruption they’ve caused in the traditional mobile ecosystem.”

Will Off-Branded iPhone Chargers Put You At Risk

December 14, 2017 by  
Filed under Around The Net

Many of the fake or look-alike iPhone chargers put consumers at risk of lethal electric shock. 

So says experts at Electrical Safety First who, in a study carried out with Apple, found that 49 out of 50 ‘lookalike’ chargers purchased in the UK failed safety tests.

One in three chargers tested failed every part of the safety screening, while almost half failed an electric strength test, which means they post a “severe risk” of electric shock.

What’s more, internal examination of the knock-off cables revealed that almost half ailed basic safety requirements and contained sub-standard internal components or inadequate spacing.

“We tested a range of fake iPhone chargers and found that 98 per cent of them had the potential to cause a lethal electric shock or start a fire,” Electrical Safety First said in a blog post.

“It’s a scary thought, especially when you think about how often we continue to use our phones while they’re charging. And if you leave yours to charge overnight, you have even more reason to be concerned.”

The outfit has offered up some advice on how to spot a fake Apple charger. For example, a look-a-like cable could take twice as long to charge your iPhone’s battery, will likely be missing markings or contain spelling errors, and the USB port could be upside down or in a different place.

This latest warning comes just weeks after Trading Standards has warned consumers to bite the bullet and pay for official Apple charges after discovering that fake alternatives are just as dangerous as they are cheap. 

The consumer advice outfit earlier this year bought up 400 fake Apple chargers, likely costing it approximately £396, and found that 397 of them failed to pack enough insulation to protect users’ against electric shocks.

Courtesy-TheInq

Toshiba AND Western Digital Settle

December 14, 2017 by  
Filed under Around The Net

Toshiba and Western Digital have agreed in principle to settle a dispute over the Japanese firm’s plans to sell its $18 billion chip unit and aim to have a final agreement in place next week.

Word on the street is that the Toshiba board has approved a framework for a settlement.

Western Digital had been able to block a deal to selling the unit to a Bain Capital-led consortium.

The settlement under discussion calls for Western Digital to drop arbitration claims seeking to stop the sale in exchange for Toshiba allowing it to invest in a new production line for advanced flash memory chips that will start next year.

A Toshiba spokesman said that while the company was open to a settlement, it would not disclose discussion specifics or details of board of directors meetings. “It is not a fact that we have reached an agreement with Western Digital,” he said.

Western Digital is not saying anything.

Toshiba was forced to put the unit – the world’s no. 2 producer of NAND chips – on the block to cover billions of dollars in liabilities arising from its now bankrupt US nuclear power unit Westinghouse.

The deal with the Bain-led consortium will, however, see it reinvest in the unit and together with Hoya a maker of parts for chip devices, Japanese firms will hold more than 50 percent of the business – a keen wish of the Japanese government.

As part of the planned settlement, Toshiba and Western Digital would extend existing agreements for their chip joint ventures in Yokkaichi, central Japan, one of the sources said. The current agreements are set to start expiring from 2021.

Western Digital would also invest in a completely new chip plant that Toshiba will start building next year in northern Japan, the source said.

Western Digital, one of world’s leading makers of hard disk drives, paid some $16 billion last year to acquire SanDisk, Toshiba’s chip joint venture partner since 2000.

With data storage key to most next-generation technologies from artificial intelligence and autonomous driving to the Internet of Things, NAND chips have only grown in importance and Western Digital has been desperate to keep the business out of the hands of rival chipmakers.

The sale still needs to clear the snarling mauls of the regulatory watchdogs but they are not expected to rip the trousers of the deal.

Courtesy-Fud

Did Consumer Report Give The iPhone X A Cold Shoulder

December 13, 2017 by  
Filed under Mobile

Consumer Reports has rated Apple’s iPhone X as rubbish and claims that Apple’s iPhone 8 was a better phone despite being much cheaper.

The publication published its results from testing the iPhone X’s display, camera, battery life, and durability.

While Consumer Reports called the phone an “innovative device with a fantastic camera and beautiful display” the iPhone X lost to the iPhone 8 and 8 Plus in a full comparison of the phones because it was flimsy.

The iPhone 8 proved “hardier” when it came to drops and damage. The iPhone X performed well in the initial drop tests, but it didn’t fare so well after more extensive testing.
Consumer Reports found: “We tumbled three samples of the iPhone X. The first was fine after 50 drops, but the glass on the back was significantly cracked after 100. The other two phones ended up with malfunctioning displays after 50 drops. Though the front glass didn’t crack, several bright green bars stretched across the screens from top to bottom.”

The iPhone X performed about the same as two other flagship phones, the Samsung Galaxy S8 and S8+, Consumer Reports said.

The Tame Apple Press has rushed to defend their favourite overpriced toy. After all many of them have already bought the expensive turkey.

They say that Consumer Reports’ findings differ from other iPhone X and iPhone 8 drop tests. In drop-test videos by EverythingApplePro, PhoneBuff, and JerryRigEverything, the iPhone X was found to be more durable than the iPhone 8. And drop tests published right after the iPhone 8 and 8 Plus released in September showed that the phones were more durable than Samsung’s flagship phones, but still prone to easily cracking and shattering when subjected to drops or tumbling.

However, Consumer Reports has considerably more status than EverythingApplePro, PhoneBuff, and JerryRigEverything. The last time Consumer Reports complained about something, Apple actually did something about it.

There is the serious matter that the iPhone X is hugely more expensive than its predecessors. You should, in theory be getting more for your dollar or kidney, not less.

Courtesy-Fud

Apple Exploring Acquisition of Shazam

December 11, 2017 by  
Filed under Around The Net

Apple Inc is holding negotiations to acquire Shazam Entertainment Ltd, whose software helps users identify songs by pointing their phone at an audio source, according to a person familiar with the situation.

Shazam’s smartphone app is already tightly integrated with Apple’s Siri digital assistant. Users of Apple’s iPhone with the Shazam app installed can say: “Hey Siri, what’s that song?” and the app will identify it. But Shazam has other features, such as the ability to identify television shows, that do not yet work with Siri.

Tech news website TechCrunch reported the talks earlier, writing that Apple could pay about $400 million for Shazam and that a deal could be signed as early as next week.

Shazam did not respond to a request for comment.

Privately-held, UK-based Shazam has raised $143 million from DN Capital Limited, Institutional Venture Partners, and Kleiner Perkins Caufield & Byers, among others, over its 18-year history, according to PitchBook, a firm that tracks private venture investments.

The price TechCrunch reported would fall far below Shazam’s most recent $1 billion valuation reported by PitchBook.

An acquisition of Shazam could help bolster Apple’s music efforts by making it easier for users to find songs and add them to playlists in its Apple Music service. As of mid-2017, Apple Music had 27 million subscribers, behind rival music streaming service Spotify’s 60 million users.

Samsung Commits To A Mergers, Acquisitions Strategy

December 4, 2017 by  
Filed under Consumer Electronics

Samsung Electronics’ $8 billion purchase of automotive and audio electronics company Harman has given the technology giant confidence to pursue additional big deals, its strategy chief said.

Young Sohn, the South Korean company’s Silicon Valley-based president and chief strategy officer, said he was keen for world’s top maker of memory chips, smartphones and televisions to expand in automotive markets, digital health and industrial automation.

 Samsung, which this year surpassed Intel to become the world’s biggest semiconductors manufacturer, has signaled its appetite for dealmaking over the past year, saying it was seeking businesses to build software and services to further differentiate its products.

However, it has provided few details on sectors it is targeting in its push for mergers and acquisitions.

“I believe we can do lot more going forward.”

Sohn appeared to dismiss the potential for Samsung to take part in further consolidation in semiconductors or the smartphone markets, where it is also a leading player, suggesting the company is focused on organic growth strategies in these areas.

In September Sohn said Samsung aimed to become a major player in autonomous driving, building on its acquisition of auto parts supplier Harman and its pole position in mobile communications markets.

Asked to spell out Samsung’s potential dealmaking priorities for 2018, he said the company would continue to invest in expanding its automotive business.

Another category he singled out as “an area of opportunity” was digital health, specifically preventive health and related technologies.

 Finally, in business software, he said Samsung is looking at companies in the areas of industrial internet, automation, networking, data transmission and security.

“We are a very careful and conservative company, so we will do it where it makes sense,” Sohn said, adding that it would also look for smaller bolt-on technology deals.

Retailers Lure Shoppers, But Buying Continues Online

November 27, 2017 by  
Filed under Around The Net

U.S. stores offered huge discounts, entertainment and free gifts to attract bargain hunters on Black Friday, the traditional start of the holiday retail season, but some shoppers said they were just browsing the merchandise, reserving their cash for internet purchases.

Still, a sharp rise in online sales brightened the overall outlook for those traditional retailers that have expanded beyond brick-and-mortar outlets, sending their shares higher in day-after-Thanksgiving trading. Stores also had carefully managed inventory, seeking to ward off any post-holiday liquidation that would weigh on profits.

There was little evidence of the delirious shopper frenzy customary of Black Fridays from past years, even as some stores appeared to be getting creative with gimmicks besides heavy discounts to draw in customers.

No actual data for Friday’s brick-and-mortar business was immediately available.

 Despite anecdotal signs of muted in-store sales – fewer cars in mall parking lots, shoppers leaving stores without purchases in hand – consumers are still expected to spend more overall this holiday season than last, analysts and industry executives said.

Black Friday online sales totaled at least $3.54 billion by 8 p.m. EST (0100 Saturday GMT), up 15.6 percent from a year ago, according to Adobe Analytics, which measures transactions at the largest 100 U.S. web retailers. On Thanksgiving Day, U.S. shoppers spent more than $2.87 billion online.

Adobe projected internet sales would still reach a record $5 billion by the end of the night, with online retailers forecast to rake in an additional $6.6 billion on Cyber Monday.

Indeed, some chains struggled to keep up, with brief online outages experienced by Lowe‘s, H&M and the Gap, among others, according to website performance monitors.

Macy’s Inc customers in several states, including Texas, Arizona and Illinois, took to social media to complain about the retailer’s credit card processing system. The company acknowledged that processing was taking longer than usual in its stores and said it was working on the problem.

The hiccups dragged Macy’s shares 0.6 percent lower in extended trading. They had ended the regular session up 2.1 percent, boosted by comments from Chief Executive Jeff Gennette, who told CNBC that Macy’s was better off this year than last, had robust online demand and was in a good place for holiday promotions.

Macy’s and J.C. Penney Co Inc did a better job of ordering and controlling inventory this time, according to Burt Flickinger, managing director of Strategic Resources Group, a consultancy with seven researchers out in the field.

Fair weather across much of the nation also was factor, said National Retail Federation President Matthew Shay.

Some shoppers were enticed by the promise of spectacle, while others felt the pull of nostalgia.

Volkswagen Ramps Up Electric Cars Ambitions

November 20, 2017 by  
Filed under Around The Net

Volkswagen has approved a 34 billion euro ($40 bln) spending plan that speeds up its efforts to become a global leader in electric cars.

The world’s largest carmaker by unit sales will spend the money on electric cars, autonomous driving and new mobility services by the end of 2022, it said after a meeting of its supervisory board.

“With the planning round now approved, we are laying the foundation for making Volkswagen the world’s No. 1 player in electric mobility by 2025,” Chief Executive Matthias Mueller told a press conference.

The carmaker’s projected spending is significantly bigger than its pledge two months ago that it would invest more than 20 billion euros on electric and self-driving cars through 2030.

 Electric and autonomous vehicles are widely seen as the keystones of future transport, but pioneers such as Tesla Inc and other manufacturers are still working out how to make money on them as poor charging infrastructure, high battery costs and electric vehicles’ still limited driving range weigh on customer demand.

Until it admitted two years ago to cheating on U.S. diesel emissions tests, Volkswagen had been slow to embrace electric cars and self-driving technology.

The group said its total investments in electric vehicles capacity and projects will amount to about 72 billion euros by 2022, confirming an earlier Reuters story.

To fund greater spending on electric vehicles, it will draw on cost savings in all areas of operations, including vehicle development, administration and manufacturing, as well as strong cash reserves.

Its net liquidity still stood at around 24 billion euros after nine months even though about 17 billion euros of funds have been paid out to cover costs for its dieselgate scandal. VW’s core autos division has made cost savings of about 1.9 billion euros since the start of this year, nearly meeting budgeted cost cuts for the full year.

Mueller said VW will maintain spending discipline in order to shoulder the increased investments in new technologies while it grapples with billions of dollars of costs for its emissions scandal.

Did Apple Rush The iPhone X

November 17, 2017 by  
Filed under Mobile

There seem to be more local problems popping up on Apple’s latest super expensive iPhone X.

According to Macrumors, one of the bugs is related to audio. Some people rich enough to own the latest phone are reporting buzzing and crackling from the stereo speakers.

Some people rich enough to own the latest phone are reporting buzzing and crackling from the stereo speakers.

One customer took his crackling iPhone X back to the Mac shop where he bought it and Apple replaced it with another phone which had the same problem.

So far Apple hasn’t publicly commented on the latest problem to afflict the shiny device but according to some reports the difficulty isn’t down to the hardware but to the operating system.

If that’s true, then the problem may well be fixable.

Over the weekend other buyers of the bright and shiny gadget claimed their phones were showing a green line on the devices display.

Meanwhile other news reports claim that you can beat Apple’s Face ID system by wearing an elaborate mask.  And it is an elaborate mask that you probably couldn’t knock up in your bedroom in a thrice.

Courtesy-Fud

Is Bitcoin’s Rising Value Finally Over?

November 13, 2017 by  
Filed under Around The Net

Bitcoin fell below $7,000 on Friday to trade more than $1,000 down from an all-time high hit earlier in the week, as some traders dumped it for a clone called Bitcoin Cash, sending its value up around a third.

Bitcoin has been on a tear in recent months, with a vertiginous sevenfold increase in value since the start of the year that has led to many warnings the bitcoin market – now worth well over $100 billion – has become a bubble that is about to burst.

 It reached a record high of $7,888 around 1800 GMT on Wednesday after a software upgrade planned for next week that could have split the cryptocurrency in a so-called “fork” was suspended.

But it has quickly retreated from that peak, falling to as low as $6,718 around 1330 GMT on Friday. It later recovered a touch to trade around $6,880 by 1645 GMT, but that was still down almost 4 percent on the day.

“The market realized that the price rise was an over-reaching, so people started selling… (and) there are many long and short positions that amplify price movements.”

As bitcoin tumbled, Bitcoin Cash, which was generated from another software split on Aug.1, surged, trading up as much as 35 percent on the day to around $850, according to industry website Coinmarketcap.

Marissa Mayer Blames Russians For Yahoo Hacking

November 10, 2017 by  
Filed under Around The Net

Former Yahoo Chief Executive Marissa Mayer offered up apologies for two massive data breaches at the internet company, blaming Russian agents for at least one of them, at a hearing on the growing number of cyber attacks on major U.S. companies.

”As CEO, these thefts occurred during my tenure, and I want to sincerely apologize to each and every one of our users,” she told the Senate Commerce Committee, testifying alongside the interim and former CEOs of Equifax Inc and a senior Verizon Communications Inc executive.

“Unfortunately, while all our measures helped Yahoo successfully defend against the barrage of attacks by both private and state-sponsored hackers, Russian agents intruded on our systems and stole our users’ data.”

 Verizon, the largest U.S. wireless operator, acquired most of Yahoo Inc’s assets in June, the same month Mayer stepped down. Verizon disclosed last month that a 2013 Yahoo data breach affected all 3 billion of its accounts, compared with an estimate of more than 1 billion disclosed in December.

In March, federal prosecutors charged two Russian intelligence agents and two hackers with masterminding a 2014 theft of 500 million Yahoo accounts, the first time the U.S. government has criminally charged Russian spies for cyber crimes.

Those charges came amid controversy relating to alleged Kremlin-backed hacking of the 2016 U.S. presidential election and possible links between Russian figures and associates of President Donald Trump. Russia has denied trying to influence the U.S. election in any way.

Special Agent Jack Bennett of the FBI’s San Francisco Division said in March the 2013 breach was unrelated and that an investigation of the larger incident was continuing. Mayer later said under questioning that she did not know if Russians were responsible for the 2013 breach, but earlier spoke of state-sponsored attacks.

Senator John Thune, a Republican who chairs the Commerce Committee, asked Mayer on Wednesday why it took three years to identify the data breach or properly gauge its size.

Mayer said Yahoo has not been able to identify how the 2013 intrusion occurred and that the company did not learn of the incident until the U.S. government presented data to Yahoo in November 2016. She said even “robust” defenses are not enough to defend against state-sponsored attacks and compared the fight with hackers to an “arms race.”

Yahoo required users to change passwords and took new steps to make data more secure, Mayer said.

 

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