Hackers Demand $3M in Monero After Fraudulent Requests Hit Revolut via Italian Gov Email System
A hacking group calling itself 'iamnotavillain' has publicly demanded 6,000 Monero — worth approximately $3 million — from Revolut after claiming to hold data on around 680 customers across 31 countries. Revolut says its own systems and customer funds were not compromised but confirmed it blocked a fraudulent channel using a legitimate government agency email domain.

The exploitation of Italy's PEC certified government email infrastructure to submit fraudulent data requests to a regulated financial firm exposes a systemic verification risk for institutions that rely on trusted institutional communications channels.
Hackers Demand $3 Million in Monero After Revolut Customer Data Obtained Via Italian Government Email System
A hacking group calling itself "iamnotavillain" has publicly demanded 6,000 Monero — equivalent to approximately $3 million — from Revolut, threatening to sell customer data to other criminal organisations if the ransom is not paid within 24 hours. Revolut confirmed on 12 September 2026 that fraudulent requests for customer information had been submitted using a legitimate government agency email domain, but stated its own systems and customer funds were not compromised.
What Happened
According to reporting corroborated across multiple primary sources — including OCCRP, HTX/Cointelegraph, and ETCISO/Reuters — the group "iamnotavillain" posted its demand publicly rather than contacting Revolut directly. Revolut confirmed it received no direct contact or ransom demand from the individuals or group making the claims.
The neobank said it discovered fraudulent requests for customer data had been submitted via what appeared to be a legitimate government agency email domain. Upon identifying the fraudulent channel, Revolut said it blocked it. The company maintains that its own infrastructure and customer funds were not compromised as a result.
The group claims to hold files on approximately 680 Revolut customers across 31 countries. Compromised data could include names, dates of birth, home addresses and email addresses, according to OCCRP.
The Italian Government Email Connection
Italian authorities have widened their investigation into the breach, with suspicion focused on unauthorised access to Italy's PEC certified email system — a government-backed secure email infrastructure. This connection is corroborated across multiple primary sources, including HTX/Cointelegraph, HackMag and Blockonomi. The exploitation of a trusted institutional email channel to submit fraudulent data requests to a financial firm represents a significant operational security concern for regulated entities that rely on government communications as a verification mechanism.
Italy's privacy regulator has instructed banks to review their security systems following the incident. No confirmed public statement from other national regulators has been identified in the verified research package.
Why Monero
The group specified Monero (XMR) as its demanded cryptocurrency. Monero is a privacy-focused digital asset designed to obscure transaction details, including sender, recipient and amounts, making blockchain tracing substantially more difficult than with transparent-ledger cryptocurrencies. The choice is consistent with ransom demands where actors seek to reduce the risk of fund recovery or attribution, analysts note.
Revolut acknowledged that fraudulent requests for customer information were submitted via what appeared to be a legitimate government agency email domain, and said it had blocked that channel after discovering the fraud.
Regulatory Exposure
In regulatory terms, a breach affecting customer personal data across multiple jurisdictions carries notification obligations under applicable data protection frameworks. Italy's privacy regulator has already acted, directing banks to assess their own systems. Whether Revolut faces formal regulatory investigation from other national authorities has not been confirmed in the verified research package.
What Revolut Says
Revolut's position, as reported by OCCRP, HTX/Cointelegraph and ETCISO/Reuters, rests on three points: first, that the breach originated via a fraudulent external request rather than a compromise of its own systems; second, that customer funds were not affected; and third, that the company had no direct contact with the group that subsequently made the public ransom demand. The blocking of the fraudulent email channel is presented by the company as a remediation step already taken.
Significance
The incident is notable for the attack vector used. Rather than breaching Revolut's technical infrastructure, the group — or actors working with it — appears to have exploited the trusted status of a government-certified email system to obtain customer records. Italian authorities' widened investigation into the PEC system suggests the Revolut case may be part of a broader pattern of abuse of institutional email infrastructure, with implications for how financial firms authenticate and act upon government data requests across the European Union.
The Fin Desk Newsroom publishes verified reporting on the developments shaping fintech, payments and modern financial infrastructure.
Related Stories

Greece's Natech Closes $33M Series B to Scale Embedded Finance Infrastructure
Ioannina-based Natech Banking Solutions closed a $33 million Series B on 30 June 2025, combining $26 million in equity with $7 million in long-term low-interest debt to fund its embedded finance expansion across Europe.

AI Fraud Controls Face $8 Trillion Test as Agentic Payments Reshape Transaction Risk
With global online spending forecast to surpass $8 trillion by 2028, Visa and J.P. Morgan are deploying AI and machine learning to close the gap between fraud prevention and legitimate transaction approval. The rise of agentic payments — where software initiates purchases autonomously — is adding a new layer of accountability risk that existing frameworks were not designed to handle.

FCA Sharpens Unfair Contract Terms Guidance With Dedicated Blog and Clause Library
The Financial Conduct Authority has published a blog post and maintains a structured library of examples on unfair contract terms, signalling continued supervisory focus on how financial services firms draft consumer-facing agreements. The regime runs alongside the CMA's CMA37 guidance and the FCA's Consumer Duty framework.

Huntington National Bank launches Kyriba-powered Intelligent Treasury platform for corporates
Huntington National Bank has launched 'Intelligent Treasury,' a corporate treasury platform built with liquidity-performance fintech Kyriba, aimed at consolidating operations spread across multiple banks, ERP systems and fintech providers. The announcement follows a related Treasury Management Connectivity Ecosystem initiative the bank disclosed in October 2025.
The essential developments in modern finance
The essential developments across fintech, payments and modern finance — delivered to your inbox.
Free. No spam. Unsubscribe anytime.