Revolut Customers Affected by Data Breach at DriveWealth

Revolut customers in Ireland are facing concerns following a data breach linked to DriveWealth, a US broker that facilitates US stock trades for Revolut users. The breach involved unauthorized access to historical personal data of some customers, raising alarms about the security of sensitive information. This incident marks the second data breach affecting Revolut customers within the same month.

DriveWealth reported a security incident earlier this month, indicating that it is still assessing the full extent of the breach. The fintech company has stated that it is in direct communication with DriveWealth to gather more information. The breach potentially exposed a range of personal data, including names, email addresses, phone numbers, postal addresses, and employment details. Additionally, biographical information such as country of citizenship, age, and gender may have been accessed.

However, DriveWealth has reassured customers that passwords, credit card numbers, and bank details were not compromised during this incident. Revolut has confirmed that its own systems and infrastructure were not breached, ensuring that customer funds and investments remain secure.

Customers who utilized Revolut for US stock trading until December 2023 may be affected, as the company altered its trading model and the information shared with DriveWealth after that date. Notifications were sent to those impacted, but some customers have reported that the initial emails from DriveWealth regarding the breach ended up in spam folders. It is advisable for customers to check their spam folders if they have not received any communication.

Risks and Threats Following the Breach

The primary risks stemming from this breach include the potential misuse of personal data and increased vulnerability to phishing attempts. Phishing involves deceptive emails or messages designed to trick individuals into revealing sensitive information. Customers who received breach notifications from Revolut and DriveWealth should remain vigilant against such threats.

Concerns also extend to identity fraud and impersonation, as well as social engineering tactics aimed at extracting further personal or financial information. Neither Revolut nor DriveWealth has disclosed the number of customers affected by this breach, but Revolut boasts approximately 3.4 million customers in Ireland and over 80 million globally.

Clearance Granted

This incident follows a previous breach reported last week, where Revolut informed some customers that copies of their passports and driving licenses, along with personal details, were compromised after an unauthorized third party submitted fraudulent requests for information using a legitimate government email domain. While the exact number of affected individuals was not disclosed, reports indicated that around 700 customers worldwide were impacted, including approximately 12 in Ireland.

Given the severity of these incidents, it is reasonable to speculate that the current breach involving DriveWealth could be even more significant. Customers are urged to stay informed and take necessary precautions to protect their personal information.