Fidelity reports data breach of 77k customers to Maine Attorney General

by

As a seasoned crypto investor with over two decades of experience navigating the financial markets, this latest data breach incident at Fidelity Investments has left me feeling a bit uneasy, to say the least. I’ve learned over the years that no institution is immune to security lapses, but four instances within a year certainly raises some eyebrows.

77,000 customer records containing sensitive personal information from U.S.-based financial service provider Fidelity Investments were potentially compromised, as indicated in a recently submitted data breach notification.

On October 9th, Fidelity Investments submitted a report about a data breach to the Attorney General’s office in Maine. This cryptocurrency exchange-traded fund disclosed that the security incident affected approximately 77,099 of its customers out of a total customer base of over 51.5 million.

It’s said that a third, undisclosed entity exploited two newly created customer accounts to illegally gather personal customer data. This data breach happened from August 17th through the 19th.

Fidelity detected the breach on Aug. 19 and took steps to terminate the unauthorized access.

In a letter to affected customers, the company announced that they swiftly initiated an investigation with help from outside security professionals. The data gathered by a third party pertained to only a limited group of our clients. It’s important to clarify that this incident did not provide any access to your Fidelity accounts.

Fidelity further mentioned that they collaborated with outside security professionals to handle the issue.

Moreover, the company is providing impacted clients with a complimentary 24-month credit monitoring and identity restoration service. This service will help them stay vigilant for any suspicious activities that could potentially impact their financial wellbeing.

To avoid falling victim to fraud or identity theft, it’s essential to frequently check your statements across all your financial and non-financial accounts, keep a close eye on your credit reports, and immediately inform your bank if you notice anything unusual.

As stated in the announcement, this instance marks Fidelity’s fourth data breach within the last twelve months. Previously, the financial institution had encountered three separate incidents – on March 4th, March 18th, and July 19th.

On March 27th, Fidelity submitted an S-1 form for a Ethereum ETF that includes staking as part of its structure. According to information from Farside Investors, the Fidelity Wise Origin Bitcoin Fund has seen inflows totaling $9.8 billion since its debut on January 11th, 2024.

Read More

2024-10-11 10:50