Jul 2, 10:54 AM

Evolve Bank Data Breach by LockBit Exposes 33TB of User Data, Impacting 155,586 Accounts and Fintechs

Evolve Bank and Trust, a partner bank for fintech firms including Mercury, Affirm, and Stripe, has confirmed a significant data breach, attributed to the Russian ransomware group LockBit. The breach, which occurred in late May but was only publicly disclosed last week, involved the theft of 33 terabytes of data, affecting 155,586 accounts. The compromised data includes personally identifiable information such as names, addresses, dates of birth, contact details, Social Security numbers, and Employer Identification Numbers. The breach has impacted several fintech firms, including Wise, Affirm, Mercury, and Yieldstreet, as well as users of Bitfinex, Copper, and Nomad. Evolve Bank has faced criticism for delaying notification to affected parties and has sent a cease and desist letter to a newsletter writer covering the incident.