BlackCat ransomware group members, also known as ALPHV, have recently threatened to release 80 GB of sensitive data obtained from Reddit in a February attack. The hackers say they demanded $4.5 million in exchange for erasing the data and keeping quiet, but their demands were ignored. Reddit’s new price structure has angered many of the site’s most vocal users, and as a result, their demands have escalated.
Chris Slowe, Reddit’s CTO, previously reported a security breach that occurred in early February. For Slowe, the intrusion occurred because of a focused and complex phishing attempt. Although the hackers gained access to internal documents, code, and business systems, no user information was compromised. Reddit has confirmed that the February incident described in the hackers’ latest dark web post is related, and that no user data was accessed.
Experts in the field of cybersecurity are skeptical of the BlackCat ransomware gang, even though their demands seem to be in line with the worries of the protesting users. Threat expert Brett Callow from security firm Emsisoft speculates that the hackers could care less about the API price issue than they seem to. They may instead aim to do continuous injury and raise the probability of collecting from future victims. The organization has confessed that they do not believe Reddit would comply with their demands and that they plan to release the information.
Many prominent Redditors have spoken out against the site’s new price structure, which the hackers have linked to their threat. For some third-party apps to use the firm’s platform, the company intends to levy exorbitant fees. Thousands of Reddit communities have shut down in protest of this decision. The angry users say the levies will make the platform less welcoming and accessible.
Reddit and its user base have come under scrutiny as a result of the continuing demonstrations and the potential for data leakage. As users continue to voice their displeasure with the new pricing structure, more than 3,500 Reddit communities have gone dark. Reddit’s reputation and the confidence of its user base may take another hit if sensitive information were to be compromised and made public. This incident underlines the necessity for effective reactions to data breaches and the importance of strong cybersecurity safeguards for online platforms.
