700Credit Data Breach: 5.8M Records Exposed Including SSNs

A massive security incident at 700Credit has exposed the personal information of nearly 6 million Americans who applied for credit at auto dealerships across the country.

This sensitive data includes Social Security numbers, Home addresses, names, dates of birth, and more.

700Credit Data Breach Details

The 700Credit data breach occurred over two days starting October 25, 2024. Hackers gained unauthorized access through a compromised partner’s API connection, stealing records from roughly 20% of the company’s database spanning a five-month period from May through October.

According to Managing Director Ken Hill, the partner company was compromised back in July but failed to notify 700Credit. The attackers used that partner’s communication logs to expose an API vulnerability that allowed them to pull consumer information.

Hill explained that threat actors launched a “velocity attack” that pinged their systems millions of times. Although 700Credit shut down the exposed API and their internal systems remained secure, hackers had already copied approximately 5.8 million customer records.

Sensitive Information Stolen in the Breach

The stolen data includes:

• Full names
• Home addresses
• Social Security numbers
• Dates of birth

This combination represents four key pieces of information needed to open fraudulent accounts or commit identity theft.

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700Credit’s Response and Consumer Protection

700Credit has secured FTC approval to file a single notification on behalf of all affected dealerships. The company began mailing breach notices to impacted consumers on December 22.

All affected individuals will receive 12 months of free credit monitoring and identity protection services. Consumers can contact 700Credit’s dedicated helpline at (866) 273-0345 for assistance.

Cybersecurity experts recommend affected individuals immediately freeze their credit files with all three major bureaus. Freezing takes about five minutes and can be temporarily lifted when applying for legitimate credit.

Final Thoughts

This incident serves as a stark reminder that data breaches can happen to any company, regardless of size or security measures.

The 700Credit data breach exposed millions through a third-party vulnerability that could have been prevented with better partner communication.

If you received a notification letter, take it seriously. Monitor your credit reports, consider freezing your credit files, and in general everyone should take precautions to protect sensitive information online.

For more details on this story, refer to the official notice from 700Credit and the interview from CBT News.

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