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Evolve Bank & Trust’s data hacked

We last discussed the bankruptcy of Synapse at the start of June but the story seems to be getting worse and worse for Synapse and for fintechs as a whole.

The latest news involves Evolve Bank and Trust, who was involved in a ransomware attack by a Russian hacker group called LockBit. LockBit got a “cache of Federal Reserve data” and released 33 terabytes of data from Evolve’s systems. If you want to keep up to date on all the stuff happening with fintechs, Jason Mikula is great for this.

Since Evolve works with a lot of fintechs, a lot of data was released – including that of Mercury, Stripe, Dave, EarnIn, TabaPay… so if you’re a use of a fintech that partners with Evolve for banking services, your data is probably out there – including Social Security numbers.

But here was his tweet:

Scary stuff!