A former Revolut employee allegedly attempted to extort a cryptocurrency trader by threatening to leak his personal Know Your Customer (KYC) data. The trader, known as TraderSZ, reported that the ex-employee also contacted his family members, who are also Revolut users, to pressure him into paying a ransom.
Revolut has confirmed the incident, stating that the company has reported the unlawful and criminal actions of the third party, identified as a former employee, to law enforcement. The fintech firm emphasized that its security systems and data protection protocols operated as intended and that no procedural breach occurred. Revolut is reportedly in communication with the affected customer.
This incident highlights a growing threat to cryptocurrency investors, with ransom attempts and physical attacks becoming more prevalent. In recent months, authorities have arrested individuals involved in crypto-linked kidnapping and ransom plots, underscoring the risks associated with digital asset ownership.