Evolve Bank & Trust Data Breach
Last Updated on July 11, 2024
At A Glance
- What's Going On?
- Attorneys need to hear from people affected by the Evolve Bank & Trust data breach as they investigate whether a class action lawsuit can be filed.
- Does This Cost Anything?
- It costs nothing to get in touch or to talk to someone about your rights.
- What Can I Get?
- If filed and successful, a class action lawsuit could provide consumers with money for any harm resulting from the breach.
Evolve Bank & Trust Data Breach:
Lawsuit Investigation
Attorneys working with ClassAction.org are looking into whether a class action lawsuit can be filed in light of the Evolve Bank & Trust data breach.
As part of their investigation, they need to hear from individuals who received a notice stating they were impacted.
Evolve Bank & Trust has suffered a ransomware attack at the hands of a cybercriminal group known as LockBit. The data breach first came to light in late May 2024, when the bank noticed irregularities in its system functionality, initially suspected to be hardware failures. Further investigation revealed, however, that these issues were the result of unauthorized activity.
According to Evolve's online notice of the security incident, LockBit successfully infiltrated the bank's systems after an employee mistakenly clicked on a malicious link. The ransomware attackers were then able to access and download sensitive customer information from Evolve Bank & Trust's databases and file shares in February and May. Evolve Bank & Trust stated that it refused to pay the ransom demanded, resulting in leakage of the stolen data.
Information exposed in the Evolve Bank & Trust data breach may include names, Social Security numbers, bank account numbers, and contact details of the majority of their personal banking customers. Customers of Evolve's Open Banking partners, including Affirm who reported the incident to the Securities and Exchange Commission in June 2024, are also affected. Likewise, global fintech firm Wise posted on its website that some of its customers' personal information may have been exposed in the Evolve Bank & Trust data breach.
Evolve employee information is also believed to be compromised, though the bank is still investigating whether business, trust and mortgage customers are affected.
Evolve Bank & Trust says it will send emails to affected individuals starting July 8, 2024.
If your information was exposed in the breach, attorneys want to hear from you. You may be able to start a class action lawsuit to recover compensation for loss of privacy, time spent dealing with the breach, out-of-pocket costs, and more.
A successful case could also force Evolve Bank & Trust to ensure it takes proper steps to protect the information it was entrusted with.
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