Figure Technology confirms data breach affecting nearly 1 million users

Figure Technology data breach overview:

• Who: Figure Lending Corp and its subsidiaries, Figure Lending LLC, Figure Markets Credit LLC and Figure Payments, announced a significant data breach.
• Why: A sophisticated social engineering attack targeted an employee, allowing the ShinyHunters group to exfiltrate and leak internal data.
• Where: The breach occurred within Figure Technology’s internal digital environment, with the stolen data later published on a dark web leak site.

Figure Technology, a blockchain-based financial services provider, confirmed a significant data breach following a targeted cybersecurity incident that occurred in January. 

The compromise was initiated through a social engineering attack where an unauthorized actor successfully deceived a company employee, gaining the necessary access to exfiltrate internal files. 

While the company initially described the event as involving a limited number of documents, subsequent investigations and disclosures by the threat actors revealed a much wider impact. 

The hacking collective known as ShinyHunters claimed responsibility for the breach, asserting that they successfully stole 2.5 gigabytes of data from the lender’s systems.

Independent analysis of the leaked data indicates it may contain approximately 967,000 records, including personal information, such as names, dates of birth and addresses.

According to the hacking group, the decision to leak the information was made after Figure Technology allegedly refused to engage in ransom negotiations. 

By publishing the stolen data on a dark web forum, the attackers made the sensitive records accessible to other cybercriminals, creating a high risk for the impacted individuals. This incident highlights the ongoing vulnerability of fintech institutions to human-centric threats despite their reliance on advanced digital ledger technologies.

Figure Technology implements mitigation strategies to data breach

The exposure of such detailed data is particularly hazardous because the combination of birth dates and physical addresses allows malicious actors to conduct highly targeted identity theft and fraudulent activities.

In response to the crisis, Figure Technology has stated that it is actively communicating with its business partners and is in the process of notifying all affected individuals through formal channels. 

To assist those whose data was compromised, the company is offering complimentary credit monitoring services via TransUnion for a specified period. To receive these services, individuals must enroll by May 31, 2026.

Figure Technology has also established a dedicated call center to answer questions about the security incident at 1-855-522-6935, from 8 a.m. to 8 p.m. ET Monday through Friday, excluding major U.S. holidays.

The company is urging all notified users to enroll in the services and remain vigilant for any signs of unauthorized account activity or suspicious communications. 

Last year, fashion giant Kering confirmed a significant data breach, allegedly by Shiny Hunters, affecting its luxury brands, including Gucci, Balenciaga and Alexander McQueen.

Were you affected by the Figure Technology data breach? Let us know in the comments.

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