It appears that this week Visa confirmed that that an ATM breach back in February did actually expose millions of credit cards and and PIN numbers.

Visa, one of the nation's largest issuer credit and debit cards, publicly acknowledged the trouble Tuesday in response to media inquiries prompted by Wachovia Bank's decision to replace an untold number of debit cards issued to its customers.

Charlotte, N.C.-based Wachovia issued the card replacements last week as an antifraud measure, said bank spokeswoman Mary Beth Navarro. She declined to explain the circumstances that triggered the action after several months.

The cost of reissuing a single credit card can be between $25-35. Banks only reissue cards if they see actual fraud on them, which means this compromise was more than just an "exposure of credit card numbers". If Wachovia sent out new cards then the compromised numbers/PINs must have been used fraudulently.

Update: Sources say that the powers that be, knew about this compromise over a year ago.  It only made the new in Febuary and even then wasn't acknowlegded until now.