Evolve Bank Cyber Attack Timeline

Download Our Educational Cyber-Attack Timeline: Evolve Bank

Evolve Bank & Trust, a U.S.-based banking-as-a-service provider, suffered a significant cyber attack orchestrated by the LockBit ransomware group. The attackers infiltrated Evolve's systems, compromising the personal data of at least 7.6 million individuals. The breach also affected customers of Evolve's financial technology partners, such as Affirm, Mercury, and Wise, exposing sensitive information across multiple platforms.

Interestingly, LockBit initially claimed to have breached the U.S. Federal Reserve, threatening to release 33 terabytes of sensitive banking information. However, upon releasing the data, it became evident that the compromised information originated from Evolve Bank & Trust, not the Federal Reserve.

This misattribution highlighted the complexities and potential misunderstandings in cybercriminal activities. We've compiled all the twists and turns from this interesting, albeit highly damaging cyber attack, in our Evolve Bank Cyber Attack Timeline.

Disclaimer: This document has been created with the sole purpose of encouraging discourse on the subject of cybersecurity and good security practices. Our intention is not to defame any company, person or legal entity. Every piece of information mentioned herein is based on reports and data freely available online. Cyber Management Alliance neither takes credit nor any responsibility for the accuracy of any source or information shared herein.

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Cyber-Attack Timeline: Evolve Bank