Hackers demand $3M in Monero from Revolut, threaten data sale

A criminal group this week demanded $3 million in the privacy-focused cryptocurrency Monero from digital bank Revolut and threatened to sell customer records if the payment is not made. The attackers circulated a statement claiming they hold sensitive account information and said they would list details on criminal marketplaces unless their demand is met.

The group specified Monero as the required payment method. Monero is designed to make transactions harder to trace than bitcoin or traditional transfers, a feature that has led to its use in extortion and other illicit activity.

Revolut has not confirmed that a breach resulting in the theft of customer data occurred and has not provided evidence that accounts were compromised or identified the types of records, if any, taken. Security teams typically investigate such claims to determine whether systems were accessed, what data might be affected and whether customers must take protective steps.

Extortion cases of this kind often involve claims of names, email addresses, phone numbers, identity documents and account histories. If accurate, those records can be used for identity theft, targeted phishing campaigns, fraud and other crimes. Criminal groups sometimes publish sample records to pressure victims into paying and then offer larger datasets for sale if demands are unmet.

Revolut provides digital banking services across multiple markets and serves millions of customers. A claim of exposed customer information can prompt inquiries from regulators and customers. Authorities and cybersecurity professionals generally advise against paying ransoms and recommend containment, forensic analysis and notification of affected users when required by law.

Customers are advised to monitor account activity, enable available security features such as two-factor authentication and report suspicious communications to the company. If a confirmed breach emerges, companies normally notify affected customers and relevant regulators and provide guidance on protective steps.