Evolve Bank Shares Data Breach Details as Fintech Firms Report Being Hit

Evolve Bank recently experienced a data breach, impacting customers of fintech firms Wise and Affirm. The ransomware attack by the LockBit group led to the exposure of customer and financial technology partner information. Wise disclosed that data shared with Evolve included personal details like names, addresses, and Social Security numbers. Affirm also confirmed that some customer information was compromised but assured that their systems remained secure. Evolve revealed that the cybercriminals accessed and downloaded customer data, including personal and banking information. The bank refused to pay the ransom demanded by the attackers. Investigations suggest that personal information of customers and employees, such as names, Social Security numbers, and contact details, was likely compromised. Evolve stated that customer funds were not accessed, and the impact on operations was limited due to existing backups. The incident underscores the importance of robust cybersecurity measures to protect sensitive data from such breaches.