A significant data breach at 700Credit, a leading provider of credit reporting and identity verification services for the automotive industry, has exposed the personal information of more than 5.8 million consumers. The company, which serves over 21,000 dealerships across the United States, filed a notice with the Maine Attorney General confirming that the incident occurred between October 25 and October 27, 2024.
The breach reportedly originated from a compromise at one of 700Credit’s integration partners earlier in July. Hackers exploited a security vulnerability in an API (Application Programming Interface) to gain unauthorized access and exfiltrate consumer data. The stolen information includes highly sensitive details such as full names, home addresses, dates of birth, and Social Security numbers.
Because 700Credit operates behind the scenes for vehicle, RV, and marine dealerships, many affected individuals may not recognize the company name. Anyone who has applied for financing, been pre-qualified for a loan, or had their credit screened at a dealership recently could be at risk.
In response to the leak, 700Credit is offering 12 months of free credit monitoring and identity restoration services through TransUnion’s Cyberscout. Notification letters are expected to be sent to affected consumers starting December 22. These letters will contain a unique activation code that must be used within 90 days to enroll in the protection program.
Security experts recommend that all consumers—regardless of whether they receive a notice—take immediate steps to protect their financial identities. These measures include freezing credit reports at Equifax, Experian, and TransUnion, setting up multi-factor authentication on financial accounts, and monitoring bank statements for suspicious activity. While the breach cannot be undone, proactive damage control is essential to preventing identity theft and long-term financial fraud.
Sources and Links
- Lifehacker: Your Credit Info Might Have Been Leaked in This Massive Data Breach
- 700Credit Official Notice: Security Breach Information
- Maine Attorney General: Data Breach Notifications
- BleepingComputer: 700Credit data breach impacts 5.8 million vehicle dealership customers
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