Cryptocurrency ransomware group Lockbit leaked 33 TB of Evolve Bank and Trust data yesterday, despite initially threatening to disclose “bank secrets of Americans” from the Federal Reserve.
As part of the leak, Lockbit shared a press release link detailing the Federal Reserve’s enforcement actions against Evolve Bank. Following the Federal Reserve’s discovery of “unsafe and unsound banking practices in its fintech partner relationships,” Evolve Bank and Trust agreed to a cease and desist order in June.
Lockbit also leaked the parent directory, seed, and compressed archive files of Evolve Bank and Trust.
According to a report by Jason Mikula of Fintech Business Week, industry insiders said the situation is “very bad” as files containing “end-user PII, including SSNs, card PANs, wire, and settlement files” were leaked.
Lockbit demanded ransom payment before 20:27 UTC on Tuesday. It appears that no reward was received.
LockBit listed an undisclosed ransom demand on Sunday and claimed negotiations failed. It stated, “You better hire another negotiator within 48 hours and fire this clinical idiot who values the bank secrets of Americans at $50,000.”
In an email to its customers, Evolve stated, “We acknowledge these reports and are actively investigating the situation.”
“The Evolve team is working with law enforcement and government agencies to monitor and address this issue with the utmost effort and transparency,” it added.
Read more: Federal Reserve Takes Enforcement Action Against Evolve Bank
Evolve Bank and Trust provides accounts for customers of fintech intermediary Synpase, which filed for bankruptcy in April.
After Synapse’s collapse, several banks, including Evolve, reportedly lost $109 million in customer deposits held by fintech company Yotta.
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