Crypto-friendly bank Evolve Bank is under fire after admitting to a data breach that compromised the personal information of over 155,000 users. According to a report by Protos, the bank knew about the breach for over a month before notifying users last week.

The breach reportedly occurred in May when a Russian ransomware gang, LockBit, gained unauthorized access to Evolve's systems after an employee clicked a malicious link. LockBit is known for its sophisticated cyberattacks and demands for hefty ransoms.

Evolve Bank claims it stopped the attack within days and hasn't detected any further unauthorized activity since the end of May. However, the damage appears to be significant.

The stolen data is estimated to be 33 terabytes, potentially including sensitive personal identifiable information (PII) such as names, addresses, Social Security numbers, tax identification numbers, dates of birth, account balances, and email addresses.

The leaked data reportedly affects users of several cryptocurrency firms partnered with Evolve Bank, including Bitfinex, Nomad, and Copper Banking. These users are at increased risk of identity theft and financial fraud.

Evolve Bank's month-long delay in notifying users of the breach is raising serious concerns. Critics argue that the delay gave criminals more time to exploit the stolen data.

This data breach emphasizes the importance of robust cybersecurity measures in the financial sector, especially for institutions dealing with cryptocurrencies. Regulatory bodies are likely to scrutinize Evolve Bank's response to the breach in the coming days.