Excerpt from Techcrunch Article, Published on July 03, 2024
The money transfer and fintech company Wise announced on Friday that some of its customers’ personal data may have been stolen in the recent Evolve Bank data breach. This incident underscores the broader impact of the Evolve Bank data breach on third-party companies and their customers. Wise, which collaborated with Evolve Bank and Trust from 2020 to 2023, had shared personal information of its U.S. customers, including names, addresses, dates of birth, contact details, and Social Security numbers or Employer Identification Numbers. For non-U.S. customers, Wise shared other identity document numbers.
The extent of the breach and the exact number of Wise customers affected remain unclear as the company is still actively investigating. Wise has assured its customers that its systems were not compromised, and accounts are safe to access. The company is reaching out to those who may have been impacted by the breach.
When contacted by TechCrunch, a Wise spokesperson confirmed the ongoing investigation and emphasized that affected customers would be contacted directly. Evolve Bank, however, has not disclosed how many of its partner companies and their end users have been impacted by the breach. An Evolve spokesperson referred to the company’s official statement, which mentions their continuous efforts to address the cybersecurity incident.
Evolve Bank revealed that the breach was a result of a ransomware attack by the LockBit cybercrime gang, triggered by an employee clicking on a malicious link in May of this year. The bank has pledged to provide further updates as they continue to assess the situation and mitigate the fallout from the attack. This breach highlights the increasing risks and complexities of cybersecurity in the financial sector and the need for vigilant security measures.
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