Evolve Bank and Trust confirms LockBit stole 7.6M people's data
Evolve Bank & Trust suffered a data breach affecting 7.6 million customers due to a LockBit attack. Stolen data includes personal and financial details. Evolve is enhancing security measures. Another breach at Financial Business and Consumer Solutions impacted 4 million individuals. Cybersecurity challenges persist in the financial sector.
Read original articleEvolve Bank & Trust confirmed a significant data breach where 7.6 million customers' data was stolen during a LockBit attack in late May. The breach affected major partners like Wise and Affirm, with potential impacts on customer data. Evolve detected unauthorized activity on May 29, 2024, and promptly initiated an incident response. The ransomware crew allegedly behind the attack managed to access and download customer information from Evolve's databases. The stolen data may include names, addresses, social security numbers, and bank account information. Evolve is offering impacted individuals 24 months of credit monitoring and strengthening its cybersecurity measures. The incident occurred amidst scrutiny from the US Federal Reserve Board for deficiencies in anti-money laundering and risk management practices. Additionally, Financial Business and Consumer Solutions (FBCS) reported a data exposure affecting over 4 million individuals, including sensitive information like SSNs and account details. The cybercrime operation responsible for the FBCS incident remains unidentified. These breaches highlight ongoing cybersecurity challenges in the financial industry.
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Wise sent me an email this month that there was a breach at Evolve but all ties were broken with them and no data was affected. But these random rise of fraud txn were saying otherwise. Also, thankfully, the txns were declined due to insufficient fund(I only use wise during travelling and add fund before departure) which gets me extra worried that those might have gone through if I had funds even when all of those cards were frozen[1].
[1] This is my typical habit after getting one of my real credit card with very high limits getting charged thousands of Euros while I was out sick in hospital for a month and then getting greeted by all these charges while I was barely able to sit still and still recovering. Thankfully, my creditcard provider accepted my paperwork and removed(reversed?) those txn and immediately sent me a replacement card in a week and disabled my hacked card. Since then, I always keep my CC frozen and only use proxy(Wise) when doing txn online with limited balance.
Edit: Apparently Mercury was using Evolve as their banking partner. I know this is super common w/ online neobanks, but I'm really confused as to why they always choose the most random obscure bank. Why not partner with a major bank, or Column?
My original plan was just to ignore it, but thanks to this breach I guess I can't continue to ignore it.
Freeze your cards! I've posted an Ask HN for better visibility: https://news.ycombinator.com/item?id=40923028
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