Revolut Faces $3M Ransom After Hackers Steal Crypto Customer Data
Hackers posed as Italian government officials to extract personal data from Revolut customers, triggering a reported $3 million ransom demand.
Revolut, Europe's largest financial technology company, is confronting a reported $3 million ransom demand after cybercriminals impersonating government officials obtained personal data belonging to hundreds of cryptocurrency customers, according to The Guardian.
The attackers allegedly compromised an Italian government email system and used it to contact Revolut employees directly, requesting that they hand over customer details. The company confirmed last weekend that it had fallen victim to the impersonation scheme, marking a significant security breach for a firm that has built its reputation on digital financial services.
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At least one affected customer has stated that the breach has left him fearing for his personal safety, underscoring the severity of the data exposure beyond the financial stakes of the ransom demand itself. The incident highlights how threat actors are increasingly exploiting trusted institutional email infrastructure to bypass corporate security protocols.
Impersonation attacks that leverage legitimate government or institutional email systems represent a growing challenge for financial firms, which are often legally obligated to cooperate with official requests for customer information. The Revolut breach illustrates how that obligation can be weaponized against companies and their clients alike.
Continue reading at Business | The Guardian.