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Cyberattack targets US think tank Heritage Foundation

Conservative think tank The Heritage Foundation said on Friday that it experienced a cyberattack earlier this week. A person with knowledge of the cyberattack told TechCrunch that efforts at Heritage were underway to remediate the cyberattack, but said that it wasn’t immediately known what, if any, data was taken. Politico, which first reported the news of the cyberattack on Friday, cited a Heritage official as saying the organization “shut down its network to prevent any further malicious activity while we investigate the incident.”The news outlet quoted the Heritage official as saying that the cyberattack likely came from nation-state hackers, but did not provide evidence of the claim. Founded in 1973, Heritage is based in Washington DC, and supports and lobbies on conservative issues. Heritage was hit by a cyberattack in 2015 in which hackers stole internal emails and the personal information of its donors.

Zara Khan
April 12, 2024
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Reddit’s IPO Plans: Anticipated $748M Raise, But Potentially Classified as a ‘Meme’ Stock Due to Redditors’ Immediate Selling Rights

In a new SEC filing, Reddit says it’s planning to sell around 22 million shares, priced between $31 to $34, potentially raising around $748 million at the high end of that range. But the IPO could be volatile given that Reddit will allow its community members to sell their shares immediately, instead of being subject to the usual lock-up agreements that typically prevent investors from selling shares for six months after the IPO. The move sets up Reddit to become a meme stock — a term coined in reference to the wild GameStop short squeeze of 2021, which was driven by a group of Reddit users on its community r/WallStreetBets. The users had taken on the hedge funds that had shorted GameStop’s stock by over 100% by working collectively to buy the stock. By allowing the Reddit community to buy into the IPO, there’s again potential for the stock to be manipulated — this time, possibly in Reddit’s favor — by Redditors’ collective action.