Wise, a money transfer and fintech company, recently reported that some of its customers’ personal data may have been compromised in the Evolve Bank and Trust data breach. This incident sheds light on the ripple effects of the breach on third-party companies and their customers, with many unknown entities likely affected.
According to Wise’s official statement, the company collaborated with Evolve from 2020 to 2023 to facilitate USD account details. As a result of Evolve’s recent breach, personal information of some Wise customers, including names, addresses, date of birth, contact details, Social Security numbers, or Employer Identification Numbers, may have been exposed. Additionally, non-U.S. customers had their identity document numbers shared with Evolve.
The exact number of affected Wise customers remains uncertain as the company is actively investigating the situation. Wise has committed to reaching out to customers believed to be impacted by the data breach directly. However, the company did not disclose the specific number of customers affected when requested for comment.
In response to inquiries regarding the extent of the breach’s impact on partner companies and end-users, Evolve declined to provide further details beyond its official statement. The company disclosed that the breach was initiated by the LockBit cybercrime group through a ransomware attack resulting from an employee clicking on a malicious link earlier this year. While no evidence suggests that customer funds were accessed, customer information was downloaded from databases and a file share during the breach.
Evolve continues to work diligently to address the cybersecurity incident and assures customers that efforts are underway to provide updates promptly. The company has backups available to mitigate data loss and operational disruptions caused by the breach. Moreover, Evolve pledges to directly notify individuals whose personal information was compromised.
Several other companies partnering with Evolve, including Affirm, EarnIn, Marqeta, Melio, and Mercury, are also investigating the impact of the breach on their customers. Branch, another Evolve partner, has sent notifications to customers but has not responded to requests for comment regarding the breach’s consequences.
In light of these developments, it is crucial for affected customers to remain vigilant and monitor their accounts for any suspicious activity. As investigations continue, both Wise and Evolve are committed to addressing the breach’s aftermath and safeguarding customer data against future threats.
