Evolve Bank has confirmed a major security breach involving a ransomware gang that has stolen personal data from millions of its customers. The breach, discovered during a recent security review, has exposed critical vulnerabilities in the bank’s cybersecurity defenses.
The attack, which took place in early July, allowed hackers to access and encrypt sensitive customer information, including names, addresses, Social Security numbers, and banking details. The ransomware group has reportedly demanded a ransom for the release of the stolen data. Despite the bank’s efforts to respond swiftly, the breach has impacted a significant portion of their clientele.
Evolve Bank is conducting a thorough investigation with the help of cybersecurity experts to determine the full scope of the breach and to fortify their systems against future threats. They are also cooperating with law enforcement to apprehend the attackers. In the meantime, the bank has advised customers to remain alert for any unusual activity on their accounts and to report any suspicious transactions immediately.
To support affected customers, Evolve Bank is offering complimentary credit monitoring services to help detect potential identity theft. Additionally, the bank is implementing enhanced security measures to prevent similar incidents in the future and is reaching out directly to those impacted to provide assistance.
This breach highlights the increasing threat of ransomware attacks in the financial sector and emphasizes the urgent need for robust cybersecurity measures to safeguard sensitive personal information.