Figure Technology Confirms Data Breach After Social‑Engineering Attack; Personal Information of Customers Exposed
February 14 2026 – New York – Figure Technology, the Nasdaq‑listed fintech that leverages blockchain for consumer lending, disclosed that it suffered a data breach earlier this month. The intrusion, which security researchers attribute to the ShinyHunters hacking collective, was the result of a social‑engineering scheme that compromised an employee’s credentials and granted the attackers access to a limited set of internal files.
What happened
- Attack vector: Reported sources say the perpetrators used a classic phishing‑style social‑engineering tactic to deceive a Figure employee, allowing them to infiltrate the company’s network.
- Data accessed: The breach yielded approximately 2.5 GB of information, according to the data posted on ShinyHunters’ dark‑web leak site. Samples reviewed by TechCrunch include customers’ full names, residential addresses, dates of birth and phone numbers—details that could be weaponised for identity theft and targeted phishing campaigns.
- Company response: Figure Technology confirmed the incident to the press, stating that it has begun notifying affected individuals and is extending complimentary credit‑monitoring services to anyone who receives a breach notice. The firm declined to disclose the exact number of customers impacted or the precise timeline of detection.
- Ransom demand: ShinyHunters claimed that Figure refused to pay a ransom; the group subsequently released the stolen data without further demands.
Background on Figure Technology
Figure went public on the Nasdaq in September 2025, pricing its initial public offering at $25 per share and raising roughly $787.5 million. The capital raise placed the company’s valuation between $5.3 billion and $7.6 billion. In January 2026 the firm launched the On‑Chain Public Equity Network (OPEN)—a product built on its proprietary Provenance blockchain that enables companies to issue tokenised equity and allows investors to lend or pledge those shares without traditional intermediaries.
Industry context
While the overall volume of crypto‑related phishing attacks has fallen sharply—Web3 security firm Scam Sniffer notes an 83 % decline in 2025 losses compared with 2024—the persistence of supply‑chain and data‑exfiltration threats continues to challenge the sector. The reduction in phishing incidents is largely tied to market cycles; losses rise during periods of heightened on‑chain trading activity and recede when market volatility eases.
Analysis
The Figure breach underscores several broader trends in the fintech and crypto space:
- Human‑factor vulnerabilities remain a primary entry point. Even firms that invest heavily in blockchain security can be compromised through conventional social‑engineering tactics. Strengthening employee awareness and multi‑factor authentication is essential.
- Regulatory scrutiny may intensify. As a public company operating in the regulated lending arena, Figure is likely to face inquiries from securities regulators and data‑privacy authorities concerning its breach‑response protocols and consumer‑protection measures.
- Reputational risk for blockchain‑based services. Figure’s marketing emphasises the security benefits of blockchain. A breach that exposes personally identifiable information (PII) could erode consumer confidence, particularly among investors who view on‑chain solutions as inherently safer than legacy systems.
- Potential downstream phishing campaigns. The exposed data provides a ready‑made list for fraudsters seeking to craft convincing phishing emails or social‑media scams targeting Figure customers.
Key takeaways
- Data compromised: Names, home addresses, dates of birth and phone numbers of an undisclosed number of customers.
- Response: Figure is notifying affected individuals and offering free credit‑monitoring services.
- Perpetrators: ShinyHunters claimed responsibility, posted 2.5 GB of data, and indicated that the breach was not resolved through ransom.
- Impact on the sector: The incident highlights that blockchain‑centric firms are not immune to traditional cyber‑attack vectors and must adopt layered security strategies that address both technical and human factors.
- Future outlook: Expect heightened focus from regulators on data‑privacy practices in fintech, and increased demand for robust employee training programs across the industry.
Figure Technology’s leadership has not yet provided a timeline for a full forensic report or indicated any changes to its security architecture. As the investigation proceeds, stakeholders—including investors, borrowers, and partners—will be watching closely for updates on the breach’s scope and any remedial actions the company implements.
Source: https://cointelegraph.com/news/figure-technology-data-breach-customer-details-exposed?utm_source=rss_feed&utm_medium=feed&utm_campaign=rss_partner_inbound
