Third-party data breach confirmed by Wealthsimple

Canadian investment management platform Wealthsimple disclosed that fewer than 1% of its 3 million clients had their information breached following a cybersecurity incident involving third-party software on Saturday, according to CBC News.

Aside from social insurance numbers, account numbers, and other financial details, attackers were able to exfiltrate customers' government IDs and IP addresses as a result of the third-party hack, noted Wealthsimple, which emphasized that the incident did not result in the loss of funds.

"We acted quickly and in a few hours the issue was contained. Our security team, with the help of external experts, immediately began a thorough investigation," said the firm, which did not name the affected software.

All impacted individuals have been given complimentary credit and dark web monitoring, insurance, and identity theft protection for two years. Wealthsimple has also adopted additional cybersecurity safeguards in the wake of the breach.