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>>Former staff member allegedly threatens to conceal a KYC leak from the Revolut data breach unless compensated with cryptocurrency.

Former staff member allegedly threatens to conceal a KYC leak from the Revolut data breach unless compensated with cryptocurrency.

crypthub

about 8 hours ago

Allegation Overview

A former Revolut employee in London allegedly threatened to leak a user’s KYC data unless paid in cryptocurrency. The claim was posted publicly on X in late 2024, sparking immediate concern among the neobank’s customers. This incident highlights a serious insider‑extortion risk that traditional security measures may miss.

Revolut’s Reaction

Revolut issued a statement saying it is cooperating with law‑enforcement investigations and that its core security systems remain intact. The company emphasized no systemic breach has been detected. Its response follows a crisis‑management playbook aimed at reassuring users.

Insider Threat and Crypto Use

KYC files contain IDs, address proof, and biometric data, making them valuable for identity theft. Insiders have legitimate access, which complicates detection of malicious activity. Extortionists prefer cryptocurrency for its perceived anonymity and cross‑border speed.

Regulatory and Trust Impact

UK and EU regulators, including the FCA and GDPR authorities, may impose fines if negligence is proven. The case could prompt tighter data‑access controls across fintech firms. Maintaining user trust will depend on stronger internal oversight and compliance.