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| Yieldstreet and Affirm Impacted by Evolve Bank Cyberattack: Customer Data at Risk |
Yieldstreet and Affirm are the latest financial organizations affected by the recent cyberattack on Evolve Bank and Trust.
The online investment platform Yieldstreet informed TechCrunch that some of its customers might have been impacted by the incident. A spokesperson for Yieldstreet said, “We have communicated this to all potentially affected customers and continue to follow best practices regarding third-party cybersecurity incidents.” However, the company has not disclosed how many people were affected or what type of data was stolen.
Evolve Bank & Trust recently confirmed that some of its systems malfunctioned due to “unauthorized activity” by LockBit hackers, who attempted to deploy ransomware. LockBit gained access to the bank’s IT infrastructure when an employee inadvertently clicked on a malicious link. Although the gang stole data, the damage was mitigated as the company quickly deployed backups.
Afterward, LockBit leaked the data on the dark web, falsely claiming it had hacked the US Federal Reserve bank. However, the data actually belongs to Evolve’s various banking partners, including Affirm, Branch, EarnIn, Marqeta, Melio, Mercury, and Wise, who have all confirmed having affected customers.
A spokesperson for one of the affected partners stated, “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.”
When LockBit leaked the data and claimed it was from the Fed, many analysts saw it as a “desperate bid for attention” after Operation Cronos heavily disrupted them. However, considering the number of affected organizations, this assessment may need reconsideration.
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