Data Breach at Evolve Bank Rattles Fintech Partners
Evolve Bank and Trust, a key partner for numerous fintech startups, announced a data breach caused by the cybercriminal group LockBit, potentially affecting its retail and fintech customers. The breach involves personal information leaked on the dark web. Startups like Affirm, EarnIn, Marqeta, Melio, and Mercury have acknowledged the incident, with Affirm and Mercury confirming some customer data exposure. The breach has heightened concerns about the security of fintech partnerships, with Evolve under scrutiny by the Federal Reserve for risk management deficiencies related to these collaborations.
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