Reddit CEO Steve Huffman told The Verge that the company needs to break even before considering the IPO. But this seems like the perfect opportunity!” the post reads. “I told them in my first email that I would wait for their IPO to come along. The delayed revelation on the part of the ALPHV group begs the question: why now? Well, a BlackCat member said it is the “perfect opportunity” in a post titled, The Reddit Files. Reddit added that while limited contact information for hundreds of company contacts, current and former employees, and limited advertiser information was breached, its primary production systems remained unimpacted. Of course, there’s also a financial angle to the development, with BlackCat admins demanding $4.5 million for the deletion of the data and to buy their “silence.” With the public revelation of the breach, ‘silence’ is out of the window, yet Reddit is still at risk of its sensitive data being exposed.įour months ago, Reddit confirmed a phishing incident after a threat actor accessed one employee’s credentials, leading them to some internal documents, code, and internal business systems. ![]() ![]() The BlackCat ransomware gang, aka ALPHV, recently posted that it would leak 80 gigabytes of confidential Reddit data it exfiltrated from the company’s systems on February 5, 2023, unless it rolls back the new API policy. The ransomware gang doesn’t expect Reddit to fork out the cash.Ī new player has emerged amid the standoff between Reddit and its moderators over the company’s new controversial API policy.The BlackCat ransomware gang, aka ALPHV, recently posted that it would leak 80 gigabytes of confidential Reddit data unless it rolls back the new API policy.
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