🚨🗣️Attention Attention🗣️🚨
🆘 Alert Alert🆘
😱Shocking Breaking News😱
🏦🏦Evolve Bank & Trust Hacked by LockBit: Massive Data Breach Affects Millions
🛂A major security breach has compromised Evolve Bank & Trust, impacting millions of customers, including those from several partnered fintech firms.
📜Details of the Ransomware Attack
😱In 2024, Evolve Bank & Trust, based in Tennessee, suffered a ransomware attack by the Russian-linked group LockBit.
🕵🏼♂️Confidential customer data, including names, Social Security numbers, bank account details, and contact information, was accessed.
⚠️Impact on Partnered Fintech Companies
🔑The breach has affected fintech companies associated with Evolve, including Affirm, Wise, Bilt, Marqeta, Mercury, and EarnIn.
👥Affirm, which serves over 18 million customers, has reported significant data compromise linked to its Affirm Card.
✍🏻Regulatory and Compliance Implications
👉🏻Evolve Bank & Trust is already under regulatory scrutiny by the Federal Reserve and the Arkansas State Bank Department for inadequacies in risk management and compliance protocols.
👉🏻The cease-and-desist order highlights the urgency for Evolve to improve its cybersecurity and compliance measures.
🤔 Investigations and Future Measures*
‼️Extensive investigations are underway to determine the full impact of the breach.
🔴Affected fintech firms are working with cybersecurity experts to strengthen their defenses.
🚨Consumer rights law firm Schubert Jonckheer & Kolbe emphasizes the extensive scale of the breach, affecting millions across various platforms.
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