Information About Recent Security Incident

Information About the Incident

As part of our commitment to transparency and clients’ security, we want to inform you about a recent event that has temporarily impacted our systems and ability to provide the services. Now our services are restored and rectified.  

What Has Happened?  

In today's digital landscape, cyber threats are increasingly prevalent and sophisticated. On the May 26, 2024 our cybersecurity team detected a potential cyber-attack on our systems. In response, we took immediate actions and have temporarily restricted access to affected environments, which may have impacted your ability to log in to our online banking services.  

Access to your Valyuz accounts as well as internet banking functionality has been fully restored as of May 30, 2024, allowing you to resume processing payments seamlessly.

Are Your Funds Safe?

Sure. No client funds were impacted during or after this event.

Is Your Data Secure?

Due to the limitations of contemporary IT forensic techniques, definitively identifying all affected data points remains challenging. Therefore, we are operating under the assumption that there is a strong likelihood that client information such as names, surnames, addresses, contact details, ID data, transaction-related information as well as other client data may have been copied).

What Is Impact of the Event to You?  

Based on the current assessment, the likelihood of negative impact (such as data exposure) is uncertain and it may not be completely ruled out. Due to the limitations of contemporary IT forensic techniques potential impact may not be foreseen with certainty.

What Measures Should You Take?  

We would like to seize this opportunity to remind you of the importance of taking proactive measures to secure any online service you may have or use:

  • Monitor Your Online Services Accounts: Regularly review your online services for any suspicious activity.
  • Exercise Caution: Be cautious when sharing personal information and verify requests before responding.
  • Update Passwords: Consider updating passwords for frequently used online services.
  • Use Strong Passwords: Implement unique, strong passwords for all your accounts.

We would like to encourage you to immediately report to us any suspicious or unusual activity or communication concerning your Valyuz account or/and your personal information.  

What are Measures Taken by Us?

In immediate response to the event, we have taken the following measures:

  1. Notified local authorities:

* Central Bank (Notified May 26, 2024 and May 29, 2024)

* Lithuanian Police Department under the Ministry of the Interior (Notified May 27, 2024)

* National Cyber Security Center (Notified May 28, 2024)

* State Data Protection Inspectorate (Notified May 29, 2024)

  1. We have reset all of our clients’ passwords; you will be requested to create a new strong password in order to access your account in combination with 2 factor authentication (2FA)

  1. Backups were successfully restored, verified and tested

  1. Our IT department is actively investigating the event and enhancing security protocols

  1. We are working closely with external cybersecurity experts to strengthen our environment

Were Clients Notified?

Yes, as required by applicable legal regulations, about the event we have promptly notified our clients via direct communication channels (i.e., electronic mail letters, direct calls).  

Is Investigation Completed?

The Company is still conducting internal investigation of the event. In addition, the Company has engaged eternal external cybersecurity experts to conduct external investigation of the event. Both internal and external investigations are still not completed, and only preliminary conclusions are available.  

What Personal Data Do We Process About You?

We process your personal data in accordance with the EU General Data Protection Regulation (GDPR) and other legal requirements.

We process your data for the following key purposes: registration, identity verification and the use of our Account and Services. For the said purposes we process your name, contact details, data relating to the use of the service as well as other data necessary for the said purposes.  

Our Privacy Policy (https://www.valyuz.com/utility-pages/privacy-policy) explains in detail the purposes for which we process your personal data and what personal data we process.  

What Rights Do You Have?

Our Privacy Policy (https://www.valyuz.com/utility-pages/privacy-policy)  explains in detail the rights which you have under the GDPR.  

To exercise any of the rights mentioned in the Privacy Policy, please do not hesitate to contact our dedicated support team at support@valyuz.com or by phone at +37052078271.  

Where You Can Get More Information?

If you have any concerns or questions, please do not hesitate to contact our dedicated support team at support@valyuz.com or by phone at +37052078271.  

We are committed to supporting you throughout this process and will keep you updated.

Additional information may be provided once internal and external investigation of the event is completed.