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Evolve Bank & Trust Data Breach Jun 2024

No known CVEs used

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Security Incident Summary

Severity Score

Moderate

Organization

Evolve Bank & Trust

Threat Actor

LockBit

Actor Type

Organized Crime

Type of Breach

Data Breach

News Timeline

Jul 09, 2024

Impact confirmed

Evolve Bank & Trust confirms LockBit stole 7.6 million people's data theregister.com - Evolve Bank & Trust has confirmed for the first time that over 7.6 million customers were impacted by the LockBit ransomware attack in late May 2024, including at least three major partners like Wise ...
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Jul 03, 2024

Details Disclosed

Evolve Bank Shares Data Breach Details as Fintech Firms Report Being Hit securityweek.com - Evolve Bank & Trust has confirmed that the LockBit ransomware group was responsible for the breach, which was initiated when an employee clicked on a malicious link, leading to data being stolen and s...
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Attribution

Types of data breached

Initial Method of Access Revealed

Fintech Frenzy: Affirm & Others Emerge as Victims in Evolve Breach darkreading.com - The recent breach at Evolve Bank & Trust, which occurred in late May due to a phishing attack, has led to potential exposure of personal information from clients of financial services companies like W...
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Phishing

Customers compromised

Jul 02, 2024

Initial Access Disclosure

Evolve Bank Shares Data Breach Details as Fintech Firms Report Being Hit securityweek.com - Evolve Bank & Trust confirmed that the LockBit ransomware group was responsible for the breach and that the attackers gained access after an employee clicked on a malicious link, leading to the deploy...
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3rd Party Compromise Disclosed

EVOLVE BANK DATA BREACH IMPACTED FINTECH FIRMS WISE AND AFFIRM securityaffairs.com - New details reveal that fintech companies Wise and Affirm confirmed that some of their customers' data was compromised in the Evolve Bank breach, despite Wise no longer partnering with Evolve. Further...
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Affirm

Wise

Jun 27, 2024

Initial Report

Evolve Bank Data Leaked After LockBit’s ‘Federal Reserve Hack’ securityweek.com - LockBit ransomware group recently threatened to leak 33 TB of data allegedly stolen from the US Federal Reserve, but the data released appeared to be from Evolve Bank & Trust, a smaller financial inst...
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Initial Report

Confirmation

LOCKBIT GROUP FALSELY CLAIMED THE HACK OF THE FEDERAL RESERVE securityaffairs.com - The LockBit ransomware group falsely claimed to have breached the U.S. Federal Reserve, when the actual victim was Evolve Bank & Trust, based in Arkansas. The data leak confirmed to belong to Evolve B...
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Confirmation

Organization Details

Organization Size

500

HQ Location

Memphis, Tennessee

Industry

Financial services

Security Stack used by Evolve Bank & Trust at time of breach (best approximation) Why?

Network Security

VPN/SASE

IDS/IPS

Endpoint Security

EDR

MDM

Identity Management

SSO / MFA

IGA

Application Security

WAF

SCA

Cloud Security

CASB

CWPP

SIEM / Threat Intel

SIEM

TIP

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What is Evolve Bank & Trust?

Evolve Bank & Trust is a full-service financial services organization based in the United States. It provides a wide range of services including retail banking, mortgage banking, trust services, insurance, and investment services. Evolve was founded in 1925, and over the years, it has grown signific...
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