Evolve Bank Confirms Data Breach, Customer Information Exposed
27 June 2024 at 02:29
Details of the Evolve Bank Data Breach
There were reports that the Russian hacker group LockBit was responsible for the ransomware attack and data breach at Evolve Bank. LockBit had claimed to possess Federal Reserve data and, when their demands were not met, released approximately 33 terabytes of data from Evolve's systems. The group had allegedly touted their cache of Federal Reserve data, which was used to pressure the bank into meeting their demands. In response to the reports surfacing about the Evolve data breach,Β Evolve Bank & Trust is actively informing affected individuals about the breach. The bank has started reaching out to impacted customers and financial technology partners' customers through emails sent from notifications@getevolved.com. The communication includes detailed instructions on how to enroll in complimentary credit monitoring and identity theft detection services.![Evolve Bank Data Breach](../themes/icons/grey.gif)
Steps Taken by Evolve Bank & Trust
The bank is undertaking a comprehensive response to this incident, which includes:- Engagement with Law Enforcement: Evolve has involved appropriate law enforcement authorities to aid in the investigation and response efforts.
- Customer Communication: Direct communication with affected customers and financial technology partners' customers is ongoing to ensure they are informed and can take necessary protective measures.
- Credit Monitoring Services: Impacted individuals are being offered complimentary credit monitoring and identity theft detection services.
- Continuous Monitoring: Evolve is closely monitoring the situation and will provide updates as necessary to keep customers informed.
Recommendations for Affected Customers
Evolve Bank & Trust advises all retail banking customers and financial technology partners' customers to remain vigilant by:- Monitoring Account Activity: Regularly check bank accounts and report any suspicious activity immediately.
- Credit Report Checks: Set up free fraud alerts with nationwide credit bureausβEquifax, Experian, and TransUnion. Customers can also request and review their free credit report through Freecreditreport.com.
- Reporting Suspicious Activity: Contact the bank immediately if any fraudulent or suspicious activity is detected. Additionally, individuals can file a report with the Federal Trade Commission (FTC) or law enforcement authorities if they suspect identity theft or fraud.