. According to the neobank, the breach originated on the network of Waydev, an analytics platform it formerly partnered with, through which a malicious party reportedly gained unauthorized access to certain user data — including names, phone numbers, emails, birth dates, and home addresses — and is selling it on a hacking forum.Business Insider Intelligence
Breached data also includes users' Social Security numbers and passwords — but the neobank says these details are encrypted. Dave said that there's currently no evidence that suggests hackers used the data to gain access to user accounts and execute any unauthorized actions. The neobank notified customers of the incident and is carrying out an ongoing investigation.
A data breach could be particularly damaging to the neobank as it's early on in its growth. Dave started as a personal finance management platform — which counts 7 million users — and since expanded with the launch of Dave Banking, which it started The account offers $100 in overdraft coverage, with no interest rates regardless of credit score.
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