Subj : More US finance firms say they were affected by Evolve data breac
To   : All
From : TechnologyDaily
Date : Wed Jul 03 2024 15:45:05

More US finance firms say they were affected by Evolve data breach

Date:
Wed, 03 Jul 2024 14:42:31 +0000

Description:
Yieldstreet and Affirm join Wise, Branch, and many others in being affected.

FULL STORY
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Yieldstreet and Affirm have become the latest in the growing list of 
financial organizations to be affected by the recent cyberattack on Evolve 
Bank and Trust recently. 

The online investment platform told TechCrunch that some Yieldstreet customer 
may have been impacted as a result of the incident at the bank. 

We have communicated this to all potentially affected customers and continue 
to follow best practices regarding third-party cybersecurity incidents, a 
Yieldstreet spokesperson told the publication. So far, the company did not 
want to say how many people were affected, or what type of data was stolen in 
the attack. "Desperate" bid for attention 

Evolve Bank & Trust recently confirmed it had seen some of its systems 
malfunctioning - which subsequent investigation confirmed was the result of 
unauthorized activity, as LockBit hackers tried to deploy ransomware onto the 
banks IT systems. 

LockBit gained access to the banks IT infrastructure when an employee 
inadvertently clicked on a malicious internet link, and while the gang did 
steal data from the systems, it couldnt do more harm since the company 
quickly deployed backups. 

In the aftermath, LockBit leaked the data on the dark web, erroneously 
claiming that it had hacked the US Federal Reserve bank . 

But the data seems to belong to Evolves numerous banking partners, with 
Affirm, Branch, EarnIn, Marqeta, Melio, Mercury, and Wise, all now having 
confirmed having customers that are affected by the incident. 

Out of an abundance of caution, we issued an email notification to account 
holders about the incident and urged them to exercise vigilance in monitoring 
account activity and protecting their account credentials. We also reassured 
them that the safety and security of the Branch platform and mobile 
application had not been compromised, a spokesperson told the publication in 
an email. 

When LockBit leaked the data, claiming it came from the Fed, many analysts 
said the group was in a desperate bid for attention since Operation Cronos 
disrupted it, heavily. However, looking at all the affected organizations, 
they might need to reconsider the desperate part. More from TechRadar Pro 
Millions of iOS apps could have been hit by cyberattack due to this worrying 
flaw Here's a list of the best firewalls today These are the best endpoint 
protection tools right now



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Link to news story:
https://www.techradar.com/pro/security/more-us-finance-firms-say-they-were-aff
ected-by-evolve-data-breach


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