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Published on June 20, 2023
Hackers Target Reddit with $4.5M Ransom, Endangering Confidential Data

Step into the digital underbelly of Reddit, where a ransomware group known as BlackCat or ALPHV is trying to extort a whopping $4.5 million from the social media platform. Ratcheting up the tension by linking to recent user controversies and boycotting of Reddit's API pricing, ALPHV claims to possess 80GB of confidential data pilfered in a breach from February. Reddit has confirmed the breach, but insists only data about one employee was affected.

The ransom-seeking hackers have now weaponized the demands of Reddit users who oppose new revenue-generating policies for third-party apps. While ALPHV claims they don't expect Reddit to comply and plan to leak the data regardless, industry analysts suggest this is likely a scare tactic to raise the pressure on future targets. As Reddit prepares for its initial public offering, how this digital skirmish unfolds could have significant implications for the platform's future. Continue reading the complete article on SFist →