British fintech giant Revolut has confirmed that an unauthorized third party obtained sensitive customer records by submitting fraudulent information requests.
Fraudulent Government Demands Lead to Sensitive Data Exposure
The breach did not involve a direct network intrusion or malware. Instead, the attacker leveraged a legitimate government agency email domain that passed standard technical authentication protocols, leading Revolut to treat the inquiry as a lawful agency data request.
According to notifications sent to affected users, the exposed information includes full names, dates of birth, postal and email addresses, phone numbers, and copies of identity documents such as passports and driver’s licenses. Disclosed records may also encompass verification selfies, account statements, IBANs, and transaction histories, including cryptocurrency activity. Revolut confirmed its internal systems and customer funds remain uncompromised, and the targeted email address has since been blocked.
Incident Scope, Regulatory Oversight, and Corporate Implications
While Revolut declined to specify the total number of impacted users or the specific government agency involved, company representatives stated that the breach affected a “limited” subset of customers. Analysis from crypto security researcher ZachXBT suggests the social engineering campaign specifically targeted high-net-worth individuals. Revolut has formally notified law enforcement, data protection authorities, and relevant financial regulators.
The incident occurs as Revolut continues its global banking expansion, following conditional approval from the US Office of the Comptroller of the Currency (OCC) to establish a national bank in the United States. With over 80 million global customers, the fintech firm is currently preparing for a potential initial public offering (IPO) that could value the company at up to $200 billion.
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