Evolve Bank and Trust confirms cyber attack

Evolve Bank and Trust has confirmed a cyber attack where customer data was stolen and subsequently posted on the dark web by the Russian-linked hacker group LockBit 3.0.

The breach occurred shortly after regulatory orders for Evolve to enhance risk management and partnership oversight.

Despite claims of hacking the U.S. Federal Reserve, no sensitive Fed data has been released.

Evolve is investigating the incident with law enforcement and offering affected customers credit monitoring services.

The bank, known for partnerships with fintechs, faces scrutiny amid ongoing cybersecurity challenges in the financial sector.