Ashley Madison founder and CEO steps down

Noel Biderman, the founder and CEO of Ashley Madison secret affair website, resigned on Friday. Temporarily, Avid Life Media Inc. will be managed by its board members.

"Noel Biderman, in mutual agreement with the company, is stepping down as Chief Executive Officer of Avid Life Media Inc. (ALM) and is no longer with the company," cited in the press release published by the Venture Beat.

For the meantime, the company will be handled by the management team. According to the release, the board is still cooperating with international law enforcement to trace the hackers of the infidelity website.

Avid Life Media Inc. which is now facing lawsuit cases around the United States and Canada for breach was still optimistic about the company's future. "We are actively adjusting to the attack on our business and members' privacy by criminals. We will continue to provide access to our unique platforms for our worldwide members," CBC reported.

Following the leak, several cases were filed, including class action proceedings and a plaintiff asking for $500M to cover the damages.

The Wall Street Journal discovered two suicide incidents involving the online humiliation; Toronto police is currently citing evidence for possible linkage to the divulged accounts.

Recently, The Impact Team, (as they called themselves) who claims responsibility for the attack, had divulged 37 million account numbers, emails and conversations along with Biderman's inbox.

The Times of India informed that Avid Life is now dealing with $750M and had put off their listing in the stock market.

On a lighter note, it was discovered that only a few percent of 5.5 million female profiles are real. About 12,000 are genuine; others are created by admins and auto-generated profiles. So men are paying to link up to females that would disappear after a while.

But still, it reflects that Ashley Madison, the website that earned millions of dollars over the years, attracting subscribers from different areas in the world is a huge scam.