Evolve's Massive Data Breach Highlights Fintech's Vulnerability to Phishing Attacks

🔒 Evolve's Massive Data Breach Highlights Fintech's Vulnerability to Phishing Attacks 📉

LockBit’s recent phishing attack, which was initially thought to have compromised the US Treasury, instead exposed 33 terabytes of data on the dark web from the banking and fintech company Evolve. This breach underscores how vulnerable fintech companies are to cyberattacks. On June 26, Evolve posted a notice on their website announcing the breach, which exposed personally identifiable information (PII) such as customer names, Social Security numbers, dates of birth, and account details. The company warned that the affected individuals and businesses could face significant security risks. On July 8, Evolve began notifying the parties involved. The breach was traced back to a phishing email, in which an employee mistakenly clicked a malicious link.

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