Security breach exposes personal info; Fidelity offers credit monitoring and identity protection.
Fidelity Investments recently experienced a data breach that affected over 77,000 customers. This incident is significant, yet it represents a small fraction of Fidelity's vast customer base of 51.5 million. The breach occurred over a short period between August 17 and 19, 2024, when attackers accessed personal information such as names, licenses, and social security numbers. Fortunately, no customer accounts were compromised during this breach.
The attackers managed to infiltrate Fidelity's systems by establishing two new accounts, which they used to access sensitive customer data. Fidelity quickly identified the unauthorized access and terminated it on August 19. To address the situation, the company enlisted the help of external security experts to investigate and mitigate the breach.
In response to the breach, Fidelity has taken steps to support affected customers. The company is offering two years of free credit monitoring and identity restoration services to those impacted. This proactive measure aims to help customers monitor their credit and protect their identities from potential misuse.
This incident marks the fourth data breach Fidelity has faced in the past year. Despite these challenges, the company continues to expand its offerings, particularly in the realm of cryptocurrency exchange-traded funds (ETFs), including Bitcoin and Ethereum funds. The breaches highlight the ongoing security challenges faced by financial institutions, especially those involved in emerging markets like cryptocurrency.
