Cybercriminals have successfully infiltrated Reddit’s servers, but the company has stated that the consequences were potentially mitigated due to the prompt action of an employee.
Reddit, a widely used platform for millions of internet users, serves as the hub for latest news, popular culture, and indulgence in speculative investment opportunities. This recognition has made Reddit a highly sought-after target for cybercriminals due to the valuable user data it possesses. Stolen user information can be used for extortion, accessing other systems, or sold on the dark web to the highest bidder.
Over the weekend, a security breach nearly resulted in the theft of user data. Reddit reported that an unauthorized third party gained access to its internal network and obtained internal documents. At present, the company’s investigation has not shown any evidence of user data being compromised.
Reddit reported that the recent attack was a well-planned and sophisticated attempt. The attackers had acquired information about the company’s employees and basic knowledge of its internal processes, allowing them to send seemingly legitimate emails with a link to a fake login page to several employees.
One employee fell for the scam and entered their access information on the fake website. The attackers then used this information to gain access to Reddit’s internal systems, allowing them to view and copy data from hundreds of employees, company contacts, and advertisers. Reddit stated that the user data was not impacted as the attackers did not access the company’s productive servers.
Further damage was prevented due to the swift action of the employee who immediately informed the company after realizing they had been targeted in a phishing attack. Reddit’s security team promptly locked out the hackers and launched a thorough investigation, which will continue in the future.
Despite the current assessment that user data was not compromised in the recent attack, Reddit is still encouraging its users to enable two-factor authentication as an added layer of security. This measure will make it more difficult for attackers to access accounts using only stolen passwords.
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