Revolut Faces Extortion Threats Following Email Scam

Revolut disclosed last week that customer data had been compromised due to an email scam. The Wall Street Journal reported on Tuesday that a hacker has now issued extortion threats, claiming responsibility for the breach and threatening to release more stolen customer data unless Revolut pays a ransom. The hacker, who goes by the name "I Am Not A Villain," has already released portions of the stolen data and has threatened to release more unless Revolut complies with their demands.

Revolut informed law enforcement about the extortion threat but declined to provide further comment. The U.K. Information Commissioner’s Office, responsible for data protection, is currently investigating the matter. Revolut alerted affected customers about the data exposure, which occurred through a scam involving the misuse of a legitimate government email domain.

The company stated that its systems and customer funds remained unaffected. A Revolut spokesperson told Bloomberg News that around 680 customers were impacted, which is a small fraction of the company's 80 million customers. However, the incident has drawn attention due to the targeting of some high net worth individuals in the digital asset space.

Some of these individuals are now concerned about potential "wrench attacks," where criminals threaten violence to force cryptocurrency investors to surrender the digital keys to their assets. The hacker has released materials mistakenly provided by Revolut, according to the WSJ.