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July 9, 2024 at 03:28PM
Evolve Bank & Trust confirmed a data breach with 7,640,112 individuals affected. The breach involved unauthorized access and download of customer data, including names, Social Security numbers, and dates of birth. The breach was claimed by LockBit, but it was later discovered to be from Evolve rather than the US Federal Reserve. Affected individuals are encouraged to monitor their accounts and are offered identity theft protection services.
From the meeting notes, it is clear that Evolve Bank & Trust experienced a significant data breach, affecting 7,640,112 individuals. The breach involved unauthorized access and download of customer information, including names, Social Security numbers, dates of birth, and other account and personal information. Although no customer funds were accessed, the breach had a substantial impact on the security and privacy of affected individuals.
Furthermore, the group LockBit claimed responsibility for the attack and threatened to release data purportedly from the US Federal Reserve unless a ransom was paid. It was later discovered that the released data belonged to Evolve rather than the Fed.
The breach also had implications for other companies, as Wise and Affirm, international money transfer and buy-now-pay-later companies, confirmed their affiliation with Evolve and their exposure to the breach.
In response to the breach, Evolve has initiated incident response processes and launched an investigation with third-party experts to determine the nature and scope of the breach. The company is committed to notifying affected individuals and has taken steps to encourage vigilance and offer credit monitoring and identity theft protection services for those impacted.
Overall, the breach has had wide-reaching implications for both Evolve and other affiliated companies, necessitating comprehensive response efforts to address the security and privacy concerns of affected individuals.