Revolut, Europe's largest financial technology company, has fallen victim to a sophisticated data breach orchestrated through a compromised Italian government email system. Hackers posing as government officials contacted Revolut staff to obtain personal details of cryptocurrency customers, with attackers subsequently demanding $3 million to prevent publication of the stolen data. The incident raises concerns about the fintech company's upcoming planned stock market listings in London and New York.

Approximately 680 of Revolut's 80 million customers were affected by the breach, with the stolen data targeting individuals believed to hold cryptocurrency. The hackers have demanded payment in Monero, a privacy-focused cryptocurrency that leaves no verifiable transaction record, raising questions about whether payment would actually result in data deletion. High-profile victim Mark Karpelès, former chief executive of the defunct Mt. Gox exchange, has expressed fears for his family's safety given his address is in the stolen files; other victims report receiving individual ransom demands of $50,000. Revolut, valued at $115 billion in a recent funding round, denies receiving direct contact from the attackers, whilst security experts note that even if ransom were paid, no guarantee exists that the data would be destroyed.