An unauthorized third party leveraged a legitimate government email domain to run a scam that exposed sensitive details for a limited slice of Revolut customers. According to the company, it detected the scheme, shut down the exact address involved, and alerted the appropriate government agency as well as police, privacy watchdogs, and financial regulators. The breach was reported by TechCrunch on Saturday.
A Revolut spokesperson said by email on Saturday, "Revolut systems and customer funds are unaffected." "We have contacted the limited number of impacted individuals directly to inform them and provide support."
The London fintech says it serves more than 80 million customers worldwide and is aiming for 100 million. The company has identified the US as a priority for expansion and, following its March application for a US charter, won conditional authorization in early September to run as a national bank. A July share sale pegged Revolut's valuation at $115 billion. It has earmarked $500 million for its US push over the next three to five years, has been leaning into marketing that includes free subway rides for New Yorkers, and in February rolled out its first large-scale banking business beyond Europe in Mexico.
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