The Evolve hack affected 7.6 million people, including Wise customers

The Evolve Bank & Trust hack in Arkansas affected several fintech companies, including Wise. The bank revealed that the LockBit attack put millions of customers at risk.

Evolve’s breach notification to the Maine Attorney General revealed the true extent of the LockBit attack. According to information, more than 7.6 million people were affected by the hack. In late June, notorious ransomware cartel LockBit published Evolve data on its darknet blog, claiming the information was taken from the US Federal Reserve System. The company noticed a malfunction in its systems on May 29 that initially appeared to be a hardware failure, but further investigation revealed unauthorized activity.

Evolve quickly stopped the attack and has not recorded any new unauthorized activity since May 31. Despite this, the bank did not provide detailed information about the customer data that could have been accessed by the attackers. On the same day, Wise released its own message about the leak, saying its customers were also affected by the Evolve hack.

LockBit, a ransomware cartel, has carried out more than 1,400 attacks since its inception in 2019. Despite international law enforcement operations, the group continues to target victims around the world.

Evolve Bank & Trust and several fintech companies, including Wise, were affected by the LockBit attack, which put the personal data of millions of customers at risk. Authorities took action against Evolve due to deficiencies in oversight of fintech partnerships and anti-money laundering requirements.