Hackers demand $3 million in Monero from Revolut after data leak

A group of hackers calling itself ‘iamnotavillain’ is demanding $3 million in Monero from British fintech Revolut after a data breach in which data from at least 680 customers was stolen. The attackers have set a 24-hour ultimatum and threaten to sell the stolen data to criminal organisations if Revolut does not pay. The Financial Times reports this.

In brief:

• Hackers demand 6,000 XMR, worth approximately $3 million, from Revolut within 24 hours.
• Data from at least 680 customers was stolen in the breach, including passports, driving licences and KYC photos.
• The attackers say they posed as government officials to gain access to the data.

Attackers targeted crypto customers

According to the hackers, they used blockchain analysis to selectively target customers who held large amounts of crypto. They then posed as government officials to gain access to sensitive information.

The stolen data include, among other things, passports, driving licences, KYC photos and transaction records. These are exactly the documents that financial service providers are required to collect when identifying customers.

Monero chosen for its anonymity

The demand for 6,000 XMR is no coincidence. Monero is a privacy coin specifically designed to conceal transaction details, making payments virtually untraceable. This makes the coin popular for extortion and other criminal activities.

The group posted the demand online on Wednesday, including a countdown timer. Based on the available information, it is not known whether Revolut has responded to the demand or is considering payment. Revolut has reportedly not yet issued an official response to the hackers’ claims.