Bank

when

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/evolve-bank-experiences-major-data-breach/" data-wpel-link="internal">Evolve Bank Experiences Major Data Breach</a><br></p>
<p style="text-align: justify;"><strong>Evolve Bank</strong> and Trust recently announced a significant data breach. The bank reported that at the end of May, 33 terabytes of user data were stolen due to an employee clicking on a malicious link. The breach includes information from users of major crypto companies such as Bitfinex, Nomad, and Copper Banking.</p> 
<h2 style="text-align: justify;" id="how-did-the-breach-start">How Did the Breach Start?</h2> 
<p style="text-align: justify;">The incident began in late May when an Evolve Bank employee accidentally clicked on a malicious link. This click caused some systems in the bank to malfunction. The bank claims it managed to stop the attack within a few days and has not observed any unauthorized activity since May 31.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-367140 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/07/security_co-8.jpg" alt="" width="740" height="415"></p> 
<p style="text-align: justify;">Although Evolve Bank acted quickly to contain the breach, it delayed in informing the affected fintech companies or end-users. This delay in notification led to comments about the bank’s lack of transparency. Allegedly, Evolve Bank only admitted to the unauthorized activity when news reports surfaced.</p> 
<h2 style="text-align: justify;" id="stolen-data-highlights-the-issue-s-severity">Stolen Data Highlights the Issue’s Severity</h2> 
<p style="text-align: justify;">The stolen data includes personal information such as names, addresses, social security numbers, tax identification numbers, dates of birth, account balances, and email addresses. These data are linked to 155,586 accounts associated with firms like <strong>Bitfinex</strong>, Nomad, and Copper Banking. The exposure of such a vast amount of personal and financial data inevitably raises concerns.</p> 
<p style="text-align: justify;">Jason Mikula, who reported on the breach, stated that he received an email from Evolve Bank requesting him not to publish such news. Mikula explained that his intention was not to share sensitive data but to inform the public without jeopardizing the safety of affected individuals.</p> 
<p style="text-align: justify;">In response to the breach, an anonymous executive affected by the Evolve hack contacted <strong>Mikula</strong> and requested access to the leaked files. This situation illustrates the frustration and uncertainty experienced by those affected by the breach. Evolve Bank updated its June 26 announcement to address the unauthorized activity that occurred in May. This revision demonstrated the bank’s effort to manage the damages from the breach while addressing the concerns of its users and the broader fintech community.</p> 
<p style="text-align: justify;">We also wanted to pass on information to our readers regarding the issue. Jill Shaughnessy, a public relations representative of Copper.co, reached out to us, stating that Copper Banking is a different company. In our report, Copper Banking and Copper.co are different entities. Shaughnessy’s statement included the following:</p> 
<blockquote>
 <p>Evolve Bank processes no Copper data, and as a result, no Copper data could potentially be affected by Evolve Bank’s system breach.</p>
</blockquote> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/evolve-bank-experiences-major-data-breach/" data-wpel-link="internal">Evolve Bank Experiences Major Data Breach</a></h5>

Evolve Bank Experiences Major Data Breach

Table of Contents

COINTURK NEWS

Andre artikler udgivet 2. jul. 2024

Polkadot’s $245M treasury not limited to 2-year runway, despite community concerns

Ethereum Name Service (ENS) Records Multi-Year High in Open Interest

Pi Coin for Daily Transactions: Myth or Reality?

Ripple Rejects SEC Offer: Serious Repercussions for Crypto

Solana Nears $150 Amid Positive Investor Sentiment and ETF Buzz

Daily Market Review: BTC, ETH, BEAM, BONK, EGLD

Join our free newsletter for daily crypto updates!