Revolut lost $20m due to payment flaw

clock • 3 min read
Revolut suffered a $20 million loss due to a payment flaw
Image:

Revolut suffered a $20 million loss due to a payment flaw

Hackers capitalised on differences between European and US payment systems

Malicious actors capitalised on a flaw in Revolut's payment processing system, resulting in the theft of over $20 million from the fintech company in 2022. As reported by the Financial Times, ci...

To continue reading this article...

Join Computing

  • Unlimited access to real-time news, analysis and opinion from the technology industry
  • Receive important and breaking news in our daily newsletter
  • Be the first to hear about our events and awards programmes
  • Join live member only interviews with IT leaders at the ‘IT Lounge’; your chance to ask your burning tech questions and have them answered
  • Access to the Computing Delta hub providing market intelligence and research
  • Receive our members-only newsletter with exclusive opinion pieces from senior IT Leaders

Join now

 

Already a Computing member?

Login

You may also like
Police service faces £750k fine for data breach

Threats and Risks

ICO reduces PSNI fine from £5.6 million

clock 24 May 2024 • 2 min read
Microsoft Build 2024: Five things to know about Copilot+ PCs

Artificial Intelligence

“We’re going to have a big refresh moment,” says Microsoft VP Mark Linton

clock 22 May 2024 • 7 min read
IT Essentials: Sun, stress and security

Management

Burnout is the scourge of UK cyber - don't let it ruin your holidays

clock 20 May 2024 • 3 min read

Sign up to our newsletter

The best news, stories, features and photos from the day in one perfectly formed email.

More on Threats and Risks

Police service faces £750k fine for data breach

Police service faces £750k fine for data breach

ICO reduces PSNI fine from £5.6 million

clock 24 May 2024 • 2 min read
Big tech and social media firms criticised ahead of UK General Election

Big tech and social media firms criticised ahead of UK General Election

Tech giants acting individually will prove ineffective at countering misinformation

Vikki Davies
clock 23 May 2024 • 2 min read
UK considering mandatory reporting for ransomware attacks

UK considering mandatory reporting for ransomware attacks

Plan also includes a complete ban on ransom payments from organisations running critical infrastructure

clock 23 May 2024 • 4 min read