Hackers launched a $130 million heist attempt after breaching Sinqia, a Brazilian fintech owned by Evertec. The company processes payments through Pix, Brazil’s real-time payment platform. The attack disrupted operations and triggered emergency defenses.
How Hackers Breached the System
Attackers gained access using stolen credentials from a third-party IT vendor. Once inside, they infiltrated Sinqia’s Pix environment.
The hackers attempted to move funds through two financial institutions. In response, Sinqia immediately shut down Pix operations and called in cybersecurity experts to contain the breach.
Company Response and Recovery
Evertec confirmed that part of the stolen money has already been recovered. The exact figure remains undisclosed.
As a precaution, the Central Bank of Brazil revoked Sinqia’s Pix access. The fintech is now working closely with regulators and investigators to restore services safely.
Broader Impact
Sinqia’s Pix environment supports 24 financial institutions across Brazil. This disruption shows how critical payment systems remain vulnerable to large-scale cyberattacks.
Although Evertec reported no evidence of customer data exposure, the financial and reputational risks are significant. Trust in Brazil’s fast-growing fintech sector could face new scrutiny.
Conclusion
The fintech firm breach and $130M heist attempt highlight the increasing risks tied to real-time payment platforms. Quick detection and recovery efforts reduced losses, but the attack underscores the urgent need for stronger vendor access controls and advanced defenses across financial ecosystems.
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