Hackers breached an Italian government email account and then posed as police to trick Revolut into handing over customer data belonging to "crypto whale" clients, according to a report by the Financial Times.
The attackers used the compromised government email to lend credibility to their requests, claiming they were investigating criminal cases, which reportedly led Revolut to disclose sensitive information about high-value accounts. The incident is a classic example of social engineering, where attackers exploit institutional trust rather than technical vulnerabilities.
Revolut and Italian authorities have not yet issued official statements, but sources indicate investigations are ongoing to determine the breach's scope and pursue the perpetrators. The incident comes amid growing concerns over data security in fintech, particularly as crypto whales and large wallets become prime targets.