Revolut users, which include thousands located in Ireland, have encountered their second data security incident within a single month. On this occasion, the breach stemmed from a third-party partner rather than Revolut’s internal architecture.
DriveWealth, the United States-based broker that formerly managed US stock trading services for Revolut clients, verified that the security event took place on September 4 and 5.
What Actually Happened at DriveWealth
Rather than exploiting a software vulnerability through a technical exploit, a social engineering attack tricks individuals into disclosing confidential data. DriveWealth verified that this precise method was used by attackers to secure unauthorized entry to its network.
The compromised files contain exclusively historical client records predating Revolut’s transition to a new trading framework. For the European Economic Area, which encompasses Ireland, this migration concluded in December 2023. Because Revolut ceased sharing individual client particulars with DriveWealth following that transition, newer users are completely unaffected.
The compromised details could encompass names, email addresses, telephone numbers, mailing addresses, employment history, and demographic markers such as age, gender, and citizenship. Additionally, partial DriveWealth account numbers were exposed.
Passcodes, payment card numbers, banking details, Revolut login PINs, and identity verification documents remained secure. A representative for Revolut stated that DriveWealth reached out to impacted individuals directly, and Revolut subsequently sent out its own follow-up communications.
Why Does This Keep Happening to Revolut Customers?
This security event arrives on the heels of another incident earlier in the month, during which a clever impersonation scheme leveraging a genuine Italian government email address deceived Revolut into disclosing confidential data. That specific event impacted approximately 680 individuals worldwide and compromised identity papers.
The fallout from the DriveWealth incident extended past Revolut as well. Stake and Hatch, two separate platforms relying on DriveWealth backend systems, verified similar data exposure.
Exact figures regarding the total number of impacted clients have not been published by either Revolut or DriveWealth. Revolut boasts a user base of roughly 3.4 million individuals in Ireland alone.
Impacted clients are advised to keep a close eye on their messages, remain vigilant against phishing schemes, and reach out to Revolut via official communication channels if they have any worries. Experiencing two security breaches inside a single month underscores the escalating vulnerabilities associated with third-party financial technology infrastructure.
Frequently Asked Questions
When did the DriveWealth security breach occur?
The breach involving DriveWealth took place on September 4 and 5.
Are current Revolut users affected by this incident?
No. The exposure is limited to historical client records from before Revolut altered its trading model. For the European Economic Area and Ireland, that transition happened in December 2023, meaning recent users are unaffected.
What specific information was exposed?
Compromised data may include names, email addresses, phone numbers, postal addresses, employment details, demographic markers (such as age, gender, and citizenship), and partial DriveWealth account numbers.
Were sensitive financial credentials like passwords or bank details stolen?
No. Passwords, payment card details, banking information, Revolut passcodes, and identity documents were not compromised.
Did other platforms besides Revolut experience exposure through DriveWealth?
Yes. Stake and Hatch, two other platforms that use DriveWealth’s infrastructure, also confirmed similar data exposure.
