July 2, 2024 at 05:30PM
A ransomware attack on a financial services provider has reverberated across its partners, leading to potential exposure of customer data. The attack, launched by the LockBit group, targeted Evolve Bank & Trust, compromising customer information. This has rippled through multiple companies, including Wise and Affirm, prompting investigations and concerns among their customers.
Based on the meeting notes, the major takeaways are:
1. A ransomware attack on Evolve Bank & Trust led to unauthorized access and download of customer information, as well as encryption of some data. The company experienced limited data loss thanks to backups.
2. Despite Evolve’s resistance to paying the ransom, the LockBit group leaked the stolen data, impacting not only Evolve’s customers but also other financial companies integrated with Evolve, such as Wise and Affirm.
3. Wise, a London-based company, shared customer information with Evolve, potentially implicating them in the breach.
4. Affirm, a buy now, pay later (BNPL) company, also shared personal information with Evolve, leading to uncertainty about the extent of unauthorized access to the information.
5. Other notable partners of Evolve, such as Stripe and Shopify, are currently investigating the potential impact of the breach on their customers’ data.
6. The incident highlights the growing threat of supply chain issues within the financial services industry, with larger companies’ breaches affecting numerous smaller ones, potentially risking their reputations.
These are the key details from the meeting notes, providing a clear overview of the ransomware attack and its impact on Evolve, as well as its partners and customers.