FT: Hackers demand $3m ransom from Revolut after data breach

A hacking group known as 'iamnotavillain' has threatened to sell the confidential data of Revolut customers unless the fintech company pays a $3m ransom in cryptocurrency Monero. According to the Financial Times, the hackers provided Revolut with a 24-hour deadline to comply, which expired on Saturday, 12 September. The leaked information, believed to affect around 680 people, including 12 in Ireland, included personal details such as full names, addresses, passport information, financial data, and facial verification images.

Revolut confirmed that sensitive customer data was exposed after being sent a fraudulent email from what appeared to be a government agency. The hackers claimed on Telegram that this was their first communication attempt, and no negotiations had taken place yet. The ransom demand came after Revolut applied for a Swiss banking licence, investing over 150m Swiss francs into Switzerland over the next five years. The company has over 75 million customers worldwide.