NAIROBI (CoinChapter.com)— Fidelity Investments, one of the largest asset managers in the world, has confirmed a data breach that compromised the personal information of over 77,000 customers. Fidelity confirmed the data breach in a filing with Maine’s Attorney General on Oct. 9, revealing that the incident occurred between Aug. 17 and 19, 2024. Hackers accessed customer data through two newly established accounts. Fidelity detected the breach on Aug. 19 and immediately shut down the unauthorized access.

Snapshot of Fidelity’s Response to Major Data Breach. Source: Maine’s attorney general

According to a filing with Maine’s Attorney General on Oct. 9, 77,099 customers were affected by the breach. The compromised data includes names, Social Security numbers, and driver’s license details. However, Fidelity assured that no customer accounts or financial information were accessed during the incident.

Fidelity Offers Free Credit Monitoring to Impacted Customers

To assist affected customers, Fidelity is offering two years of free credit monitoring and identity restoration services through TransUnion Interactive. The firm has mailed instructions to those impacted, encouraging them to enroll in the service to track any unusual activity.

Free Credit Monitoring Details After Data Breach. Source: BleepingComputer

Furthermore, in addition to offering this service, Fidelity advised customers to change their passwords and monitor their accounts for any signs of suspicious activity. Keeping passwords updated helps reduce the risk of further breaches, and using a password manager can simplify the process.

If the breach affected you, activate the free credit monitoring service immediately. Firstly, monitor your credit reports from TransUnion, Equifax, and Experian. Secondly, take measures to detect any unusual activity. Finally, place fraud alerts or freeze your credit to stop unauthorized accounts from opening in your name.

If you’re unsure whether the breach affected you, update your password to protect your information.

Fidelity’s Fourth Data Breach in a Year

Notably, this marks the fourth data breach Fidelity has experienced in the past 12 months, following similar incidents on March 4, March 18, and July 19. Despite this recurring issue, Fidelity has not disclosed what additional security measures have been taken to prevent future breaches.

With over $14.1 trillion in assets under management as of June 2024, Fidelity is one of the world’s largest asset managers. The firm has also been active in launching cryptocurrency-related ETFs, including the Wise Origin Bitcoin Fund, which has recorded nearly $10 billion in inflows since January, while Fidelity’s Ethereum fund, launched in July, has seen $445 million in investments.

Above all, the Fidelity data breach has sparked concerns about how attackers could infiltrate a system that manages billions in customer assets. Although the breach didn’t affect customer accounts, the loss of sensitive personal information could still lead to identity theft and other financial fraud.

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