Users received an email from Wise about the Evolve Bank and Trust breach and got worried whether their bank accounts are in danger or not. The data breach has also been confirmed by the bank itself but should you really be worried about it?

Evolve Bank and Trust recently confirmed a data breach that exposed customer information. This breach has become a major concern as sensitive data was illegally accessed and appeared on the dark web. The Arkansas-based bank is working with law enforcement to manage the situation.

The bank’s spokesperson announced that they would provide free credit monitoring and identity theft protection services to all affected customers. They will contact these customers directly with details on how to sign up for these services.

What was leaked in the Evolve Bank and Trust breach?

A cybercriminal group attacked Evolve Bank and Trust and stole data from the bank and its financial technology partners. This data included personal identification information like names, Social Security numbers, birth dates, and some account details. The criminals then posted this information on the dark web.

Fortunately, the breach did not affect customers’ debit card details or their online banking passwords. Evolve Bank and Trust believes they have stopped the breach from causing more problems. They continue to check their systems to make sure there are no further issues.

Wise sent out emails about the Evolve Bank and Trust breach

Wise, which had previously partnered with Evolve Bank & Trust, has sent emails to its users about the breach. They reassured customers that their personal information is still safe. Wise ended its partnership with Evolve in 2023, and now another bank handles the USD account details. Wise is closely looking into the breach because keeping customer data safe is their top priority.

Evolve Bank and Trust breach
Wise sending out emails about the Evolve Bank and Trust breach got customers worried (Image Credit)

Should you be worried about the Evolve Bank and Trust breach?

If you are a Wise user, then there is not much to be worried about. It’s important to be cautious if you hear from anyone asking for personal information following the breach. Wise wants its customers to know that it will never ask them to do things like log into their account for security actions, change their password to something specific, or give away security codes. They also won’t tell you to ignore alerts about unrecognized transactions.

On the other side, Evolve Bank and Trust will get in touch with their customers who were affected by the date breach. If you are one of them, please get in contact with the bank and solve this issue as soon as possible.

Is your Wise account safe?

Yes, your Wise account is still safe. The data breach at Evolve Bank and Trust did not affect Wise’s systems. Your account details, including passwords, remain secure. You can keep using your USD account details and Wise cards as usual without being worried about the Evolve Bank and Trust data breach.

Evolve Bank and Trust breach
Cyber attacks like Evolve Bank and Trust breach should be taken seriously (Image Credit)

How to protect yourself against data breaches

Here are three ways to keep your data safe:

  1. Create Strong, Different Passwords: Use complex passwords and avoid using the same password for multiple accounts. This way, if one password is stolen, your other accounts won’t be at risk.
  2. Turn on Two-Factor Authentication: This adds an extra step to your login process, making it harder for hackers to get into your accounts. Even if someone gets your password, they would still need this second verification to access your account.
  3. Check Your Accounts Often: Watch your bank statements and account activity for any signs of unauthorized actions. If you spot something odd, report it immediately. This can help stop further misuse of your information.

Everyday a new hacking scandal gets to surface and the Evolve Bank and Trust breach is not going to be the last one. Take our recommendations into consideration and please keep your accounts safe if you don’t want to get hurt in the future!

Featured image credit: Evolve Bank and Trust

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