July 9th, 2024

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.

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Evolve Bank and Trust confirms LockBit stole 7.6M people's data

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

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Evolve Bank faced a data breach affecting Wise and Affirm customers. LockBit group's ransomware attack exposed personal and financial data. Evolve refused ransom, ensuring customer funds were secure. Investigations ongoing.

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Link Icon 12 comments
By @n_ary - 6 months
Not saying that this breach is somehow connected, but all of my Wise cards(both physical and virtual) got charged($10, $100, $500) at random locations of the globe in May & June and method was manual entry. While some charges were declined initially because the expiry date was entered wrong on first try(all of my cards coincidentally have expiry date like 04/24 or similar) but cvv was always correct. To make matters worse, all these charges were manually entered somewhere and NO approval notification(thing that I get when I make any online Txn, regardless of amount) ever popped up. I only noticed the declined txns in the evening when I went to check my phone after work.

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.

By @lowkey_ - 6 months
Can someone explain why in the world Evolve has my data? (I use Mercury and Wise for my company). I tried going to their website and I'm still completely clueless.

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?

By @Animats - 6 months
Evolve is the bank that actually holds the assets for Synapse, the money-transfer company that shut down recently. That was on HN a few days ago.[1] Are these incidents related?

[1] https://news.ycombinator.com/item?id=40877346

By @1800-not-wise - 6 months
Anyone know where you can look up the breach data to see what data they have on you? Even after contacting Wise it is absolutely unclear what data they shared in detail, especially on business accounts.
By @tristor - 6 months
This thread seems as good a place as any to ask. I have a Mercury account for a now defunct/non-existent company, but Mercury refused to close my account. Unfortunately that means I was exposed in this breach. What is the best way to get them to actually close my account? I no longer even have access to the account because it's tied to a domain and email that no longer exist. The business entity was shut down correctly, so it legally no longer exists. Should I just let this ride?

My original plan was just to ignore it, but thanks to this breach I guess I can't continue to ignore it.

By @mstaoru - 6 months
In a few days after this breach, my Mercury.com Business card (issued by Evolve) was fraudulently charged by Noon.com, Vodafone UK, and Prezzee for close to US$4,000.

Freeze your cards! I've posted an Ask HN for better visibility: https://news.ycombinator.com/item?id=40923028

By @hiatus - 6 months
Mercury.com users and Yotta users seem to be affected, among others.
By @Temporary_31337 - 6 months
As the article explains any Wise (a fintech popular for travel debit cards and cheap intl money transfers) that had USD balance was exposed with the breach.