Revolut Hit with $780m Bitcoin Ransom Demand after Sophisticated Cyberattack

Revolut, the UK-based neobank and financial technology giant, has been hit by a sophisticated cyberattack that has left it facing a $780 million ransom demand in Bitcoin. The attackers, who impersonated an undisclosed government agency, deceived Revolut into revealing private information of some of its users.

The attackers then began threatening the company with releasing sensitive customer data unless a ransom was paid. On Monday, the alleged demanded payment amounting to 10,000 Bitcoins (BTC) was revealed by Coin Bureau on Elon Musk's social media platform.

Revolut has described the attack as 'a sophisticated external impersonation scam' that involved an unauthorized party sending a request email from a genuine government domain. The company stated that it affected a 'limited' number of customers and that they have blacklisted the offending address, informed the relevant authorities and agencies, as well as the compromised users.