Fidelity Investments Faces Data Breach Impacting Tens of Thousands of Customers

A recent data breach at Fidelity Investments has compromised the personal details of over 77,000 customers, according to a filing with Maine's Attorney General on October 9.

This incident represents a small portion of Fidelity’s extensive customer base, which totals 51.5 million.

The breach occurred between August 17 and 19, when an attacker exploited two newly created customer accounts to access sensitive information, including customer names. Fidelity detected the unauthorized access and terminated it on August 19.

To address the situation, the $5 trillion asset management firm enlisted external security experts. Fidelity reassured customers that no accounts were compromised by the third party involved in the breach.

To assist those affected, Fidelity is offering a complimentary two-year credit monitoring and identity restoration service, provided through TransUnion Interactive. Customers are encouraged to enroll and remain vigilant for any signs of identity theft or fraudulent activity by routinely checking their financial statements.

This marks Fidelity’s fourth data breach within the past year, following incidents in March and July. The firm has not yet responded to inquiries for further comment.

In addition to this breach, Fidelity is among several asset managers launching spot Bitcoin and Ether ETFs in the U.S. this year. Since its launch on January 11, 2024, the Fidelity Wise Origin Bitcoin Fund (FBTC) has attracted nearly $10 billion in investments, while the Fidelity Ethereum Fund (FETH) has garnered $445 million since its debut on July 23. Other companies, including OpenAI and AT&T, have also reported significant data breaches in 2024, with AT&T’s affecting more than 100 million customers.