Figure Technologies Data Breach: ShinyHunters Exposes Customer Info at Public Blockchain Lender

Figure Technologies Data Breach: ShinyHunters Exposes Customer Info at Public Blockchain Lender

A has confirmed a serious security issue. Figure Technologies, known for its blockchain-based lending, admitted to a customer data breach. This happened after hackers tricked an employee. The news has raised big concerns about data safety in the crypto world.

What Happened in the

?

On Friday, Figure Technologies shared that one of its employees fell for a social engineering trick. This let hackers access some customer files. The group called ShinyHunters took credit for the attack. They said Figure did not pay the ransom, so they leaked 2.5 gigabytes of data.

Reports show the stolen files had sensitive info like full names, home addresses, dates of birth, and phone numbers. This kind of leak can lead to identity theft and scams.

“We recently identified that an employee was socially engineered, and that allowed an actor to download a limited number of files through their account,” Figure said in a statement.

The company acted fast. They stopped the bad activity and hired experts to check what was taken.

Social Engineering: The Weak Link in Cybersecurity

Social engineering is when bad guys fool people into giving away access. They use fake emails, calls, or messages to trick workers. In this case, the attacker got login details or approved fake requests.

This is a big problem in tech and crypto. A report from Chainalysis noted that over $17 billion in crypto was stolen last year from AI-powered scams that mimic real people. These attacks are getting smarter.

• Fake emails that look real
• Phone calls pretending to be bosses
• Messages asking for passwords

Companies train staff, but one slip can cause huge damage.

Who Are ShinyHunters and Their Bigger Plan?

ShinyHunters is a known hacking group. They target big companies. In this breach, they hit Figure as part of a larger attack on users of Okta, a login service. Other targets included Harvard University and the University of Pennsylvania.

ShinyHunters often demands money to not leak data. Figure refused, so the info went public. This shows how hackers now go after service providers to hit many victims at once.

About Figure Technologies: A Leader in Blockchain Lending

Figure started in 2018 in New York. They use the Provenance blockchain for their loan platform. They focus on home equity lines of credit (HELOCs). This makes loans faster and more secure with blockchain tech.

In September 2025, Figure went public as FIGR. Their IPO raised $787.5 million and valued the company at $5.3 billion. They blend traditional finance with blockchain.

But now, this tests their security claims. Customers trust them with personal and financial data.

Data Breaches in 2025: A Growing Threat

Breaches are everywhere. In 2025, over 8,000 reports hit regulators. These came from more than 4,000 incidents. At least 374 million people were affected, per Privacy Rights Clearinghouse.

In crypto and blockchain, stakes are higher. Stolen data can lead to wallet hacks or fake loans. Figure’s case highlights risks even for public firms using advanced tech.

Year	Incidents	People Affected
2025	4,000+	374M+
Prior Years	Increasing	Billions Total

Figure’s Response to the Breach

Figure is taking steps. They are telling partners and affected people. New safety measures are coming.

“We are offering complimentary credit monitoring to all individuals who receive a notice,” the company said. “We continuously monitor accounts and have strong safeguards in place to protect customers’ funds and accounts.”

This helps ease worries. Free credit checks let people watch for fraud. But trust takes time to rebuild.

Stock Impact and New Announcements

Despite the news, FIGR stock rose 3.57% to $35.29 that day. But it dropped 37% in the last month. Markets seem to shrug off the breach for now.

Interestingly, Figure announced a secondary offering on the same day. They plan to sell up to 4.23 million shares of Series A Blockchain Common Stock. They also aim to buy back up to $30 million in Class A shares. This shows business as usual.

Lessons for Crypto Users and Companies

This teaches key points:

1. Train Employees: Regular drills against social engineering.
2. Use Multi-Factor Auth: Extra login steps block many attacks.
3. Monitor Third Parties: Check services like Okta often.
4. Have Breach Plans: Quick response limits damage.
5. Credit Monitoring: Offer it fast to customers.

For users, freeze credit and watch accounts. In blockchain lending, verify platforms have top security.

What’s Next for Figure and Blockchain Security?

Figure will face checks from regulators. Laws require quick breach reports. Investors watch how they fix issues.

Blockchain promises secure finance, but human errors hurt. Firms must mix tech with people training. As hacks grow, only the strong will last.

This breach reminds us: No system is perfect. Stay alert in crypto.

Conclusion

The

shows risks in blockchain lending. ShinyHunters exposed customer data via a simple trick. Figure responds well, but the crypto world must learn. Protect your info and choose secure platforms.

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