July 9, 2024 at 10:05AM
Evolve Bank & Trust is notifying 7.6 million Americans about a data breach resulting from a LockBit ransomware attack. The breach, caused by an employee clicking a malicious link, led to unauthorized access to the bank’s database. Affected individuals are being offered credit and identity monitoring services, and are advised to be vigilant. Other partner companies have not disclosed impact details. Shopify recently denied a data breach involving 180,000 user details.
From the meeting notes, the following key takeaways can be summarized:
1. Evolve Bank & Trust experienced a data breach as a result of a LockBit ransomware attack, impacting 7.6 million Americans. The breach was caused by an employee clicking on a malicious link, allowing unauthorized access to Evolve’s database and file shares.
2. The breach was initially discovered on May 29, 2024, but the attackers had nearly four months of dwell time in the network, as the initial breach occurred on February 09, 2024.
3. Affirm, Wise, and Bilt, fintech companies, confirmed that the Lockbit attack at Evolve impacted their customers.
4. Evolve is taking steps to address the breach, including sending data breach notifications to affected individuals and offering two years of credit monitoring and identity protection services for U.S. residents and dark web monitoring services for international residents.
5. Evolve has advised impacted individuals to be vigilant against unsolicited communications, monitor their account statements and credit history closely, and report suspicious activity to the authorities.
6. Partnerships with Shopify, Plaid, Stripe, and Mercury are active. Shopify recently denied suffering a data breach but stated that a third-party app caused reported data loss and would soon notify affected customers.
Overall, Evolve is actively managing the aftermath of the data breach and taking steps to mitigate its impact on affected individuals and partners.