Security Newsletter

10 Jul 2023

Hackers Steal $20 Million by Exploiting Flaw in Revolut's Payment Systems

Malicious actors exploited an unknown flaw in Revolut's payment systems to steal more than $20 million of the company's funds in early 2022.

The development was reported by the Financial Times, citing multiple unnamed sources with knowledge of the incident. The breach has not been disclosed publicly.

The fault stemmed from discrepancies between Revolut's U.S. and European systems, causing funds to be erroneously refunded using its own money when some transactions were declined.

 

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Kindred Group in brief

Kindred Group is one of the world’s leading online gambling operators with business across Europe, US and Australia, offering more than 30 million customers across 9 brands a great form of entertainment in a safe, fair and sustainable environment. The company, which employs about 2,000 people, is listed on Nasdaq Stockholm Large Cap and is a member of the European Gaming and Betting Association (EGBA) and founding member of IBIA (Sports Betting Integrity Association). Kindred Group is audited and certified by eCOGRA for compliance with the 2014 EU Recommendation on Consumer Protection and Responsible Gambling (2014/478/EU). Read more on www.kindredgroup.com.