Revolut Loses $20 Million Due to Payment System Flaw

  • A yet-to-be disclosed flaw in Revolut’s payment systems allowed hackers to steal more than $20 million from the fintech firm.
  • The discrepancy stemming from Revolut’s U.S. and European systems led to incorrect refunds using company’s own money on declined transactions.
  • The fraud was attributed to individuals making expensive purchases that would be declined and then refunded; around $20 million remains unrecovered.
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