From Pymnts · PYMNTS · · 1m 40s
Revolut hackers demand $3 million ransom
A group calling itself iamnotavillain claims to have breached the British fintech and is threatening to sell customer data.
In brief
A group calling itself iamnotavillain claims to have breached the British fintech and is threatening to sell customer data. Hackers are increasingly going public with ransom demands and using compromised government systems to access financial institutions, exposing a new vulnerability in the banking security chain…
Revolut hit with public ransom demand
Hackers calling themselves iamnotavillain are demanding $3 million in Monero cryptocurrency or they'll sell confidential data on hundreds of Revolut customers. The group gave the British fintech 24 hours to pay.
“all the data will be sold, and the blood will be on your hands”
Unusual public approach to extortion
Hackers typically demand ransom privately and only go public if targets refuse to pay. This public demand is a departure from standard practice, suggesting confidence or a shift in tactics.
Hackers prove they have the data
The group sent Financial Times a video showing someone browsing stolen Revolut documents including customer driver's licenses, passports, and identity photos used for KYC verification.
Breach hit at least 680 accounts
The hackers compromised an Italian government email system and posed as law enforcement to demand information on specific Revolut customer accounts over several months, targeting high-value crypto users.
Revolut says systems are secure
The company stated its systems and customer funds were not affected, and it has notified law enforcement and regulators. Revolut has not received direct contact from the hackers.
“Revolut has not received any direct contact or demand from the individuals or group making these claims”
Banks face new security blind spot
The incident reveals that financial institutions must trust third parties like government systems, creating a vulnerability harder to control than their own defenses. Sixty-five percent of firms plan to expand identity verification automation within 12 months.
In short
Hackers are increasingly going public with ransom demands and using compromised government systems to access financial institutions, exposing a new vulnerability in the banking security chain.
