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Yahoo disclosed the previous hack to Verizon only after agreeing to the deal, and Verizon has since said that it considers the hack a material event that could affect the terms and price of the acquisition.
Based on the ongoing investigation, the company believes an unauthorized third party accessed the company's proprietary code to learn how to forge cookies.
"As Yahoo previously disclosed in November, law enforcement provided the company with data files that a third party claimed was Yahoo user data.
The company analyzed this data with the assistance of outside forensic experts and found that it appears to be Yahoo user data.
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Based on further analysis of this data by the forensic experts, Yahoo believes an unauthorized third party, in August 2013, stole data associated with more than one billion user accounts.