Cyber

Digital Banking App Dave Suffers from Security Breach

07.29.2020

The banking app Dave announced that they had encountered a security breach after a cyber-hacker published the sensitive information of over seven million users on a public forum.  The company stated the security breach stemmed from a former business partner’s network, Waydev, and is notifying its customers of the data breach. The app is also resetting passwords that were exposed by the hacker.

Per Dave, as soon as the company was aware of the incident, they immediately launched an investigation and coordinated with law enforcement to find out who the malicious party was. Deemed “ShinyHunters,” the hackers were the same group who leaked or stole data from other major companies, such as Tokopedia, Mathway, and Wishbone.

Thankfully, the company stated they have no evidence to suggest hackers utilized the data to gain access to user accounts and complete any unauthorized actions. However, Dave is now forced to update its security measures and take many more precautions in the future.

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