Evolve Bank & Trust disclosed on June 26, 2024 , a cybersecurity breach where unauthorized parties breached into their network and illegally accessed sensitive consumer data. The compromised information includes names, Social Security numbers, dates of birth, account details, and other personal data. Following their investigation, Evolve promptly initiated notifications to affected individuals regarding the breach.

What Happened?

According to Evolve's statement on their website, hackers reportedly breached their IT network, extracted data, and subsequently published it on the dark web. Evolve promptly notified law enforcement and initiated a comprehensive internal investigation into the breach. Initial findings suggest that the leaked information did indeed surface on the dark web as claimed by the hackers.

The breach appears to be the work of the well-known group LockBit.

What Data Was Compromised?

It appears that hackers have posted personal information including Personal Identification Information (PII), names, social security numbers, dates of birth, account details, and other personal data, on the dark web.

There is no indication that the cybersecurity incident has affected the debit cards, online banking, or digital banking credentials of Evolve retail banking customers. These credentials are secure at this time.

Who Else Was Affected?

Given Evolve's partnerships with various financial services entities, it's possible that customers of these affiliates may also have been impacted by the breach. For instance, a spokesperson from Affirm acknowledged the potential exposure of some customer data due to the Evolve breach.

Wise, a financial technology company, that used Evolve's services in the past, made a statement that their systems were net affected by the breach.

About Evolve Bank & Trust

Evolve Bank & Trust, founded in 1925 and based in Memphis, Tennessee, is a prominent financial institution offering a variety of personal banking services. Known for its extensive partnerships with fintech companies, Evolve supports innovations in financial services through these collaborations. The bank operates with a focus on customer service and strategic growth in the banking sector.