Social media site Reddit reported a hacking incident for which the ALPHV Russian ransomware group has now claimed to be the perpetrator. The group threatens to leak censorship and other sensitive, stolen information in relation to Reddit if the company does not pay $4.5 million. Reddit had reported the data breach on February after an…
Russian Hacking Group Claims Execution of Reddit Attack, Threatens Leaking Censorship Data
Reddit Goes Offline Amid Mass Community Protests Over New Pricing Policy
Social platform Reddit went offline for some time on June 12 when numerous subreddits or communities began protesting against the company’s new policy for access to the application programming interface (API), which would charge web developers for access to the site’s backend interface. The outage began at about 10:25 a.m. Eastern time, TechCrunch reported. “We’re aware of…
Reddit to Lay Off About 5 Percent of Its Workforce
Reddit said on Tuesday it is laying off about 5 percent of its workforce, or 90 employees, joining a list of technology companies that have been cutting jobs across corporate America. Tech companies including Meta Platforms have been slashing jobs after aggressively hiring during the pandemic, as the industry braces for an economic downturn. Meta,…
Supreme Court Throws Out Lawsuit Against Reddit Over Child Pornography
May 30, 2023
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The Supreme Court refused to take up a lawsuit on May 30 against Reddit over its alleged hosting of child pornography on the social media website. The case is Doe v. Reddit Inc., court file 22-695. The Supreme Court dismissed the petition in an unsigned order. No justices dissented. The court did not explain its…
Want What’s Best for Kids? Put the Word ‘Groomer’ in Its Proper Place
Commentary Remember the story from Aesop’s Fables about the boy who cried wolf? Over and over again, the young shepherd would fool villagers into thinking that his flock was being hunted by a vicious wolf. One day, when the beast finally attacked and the boy cried out for help, no one answered. The villagers were…
Inexperienced Retail Investors Getting On Options Trading Bandwagon, Regulators Concerned
An increasing number of retail investors are getting in on the options trading trend with nifty apps that make trading seem easy and fun, while regulators consider enhancing their oversight on risky bets by amateur players. Options trading gives investors the right or “option” to buy or sell an amount of a specific asset at…
Reddit ‘Confidentially’ Files for IPO
December 16, 2021
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Reddit, which showed the world the power wielded by retail investors when grouped together on social media, said that it has filed for an initial public offering, in a year that has seen major tech stocks fare extremely well. “Reddit, Inc. today announced that it has confidentially submitted a draft registration statement on Form S-1…
Maryland Mayor Arrested on 50 Counts of Distributing Revenge Porn on Reddit
A Maryland mayor was arrested and charged with 50 counts of distributing revenge porn, Maryland State Prosecutor Charlton T. Howard III announced Monday. Charges were filed against Andrew Bradshaw, the mayor of Cambridge, in the Circuit Court for Dorchester County, according to a statement from Howard’s office. Bradshaw allegedly created multiple accounts on the public Internet forum Reddit using variations of the…
Reddit Expands Into Australia
Social news aggregator and discussion forum Reddit has opened its Australian office as part of an ongoing international expansion push. The physical office, located in Sydney’s harbourside Barangaroo precinct, will house a team tasked with expanding the company’s community engagement and advertising push. One expert says the company could be a tough competitor to incumbents…
Reddit Failed to Remove Child Pornography in Timely Manner: Lawsuit
A “troubling number of instances of child pornography” were found on the social media website Reddit, according to a new lawsuit. The class-action suit alleges Reddit has knowingly benefited financially from videos and images posted to the site that feature children. After pressure due to instances of child porn on several subreddits, or forums on…
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