Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Robinhood says a 'limited number' of accounts were recently hacked

Robinhood says a 'limited number' of accounts were recently hacked

Trading app Robinhood said that a "limited number" of customer accounts were recently targeted by cyber criminals, though the service itself was not hacked.
Hackers compromised users' personal email accounts outside of the trading app, and used those emails to gain access to customers' Robinhood accounts, a Robinhood spokesperson said in a statement.

While Robinhood did not specify the number of accounts affected, Bloomberg reported that nearly 2,000 customers had their accounts compromised, citing a person with knowledge of an internal review. Bloomberg first reported the compromised accounts last week. Robinhood, the trading and investment app popular with millennials, has more than 13 million customer accounts total.

"The security of Robinhood customer accounts is a top priority and something we take very seriously," the statement reads.

The company is now working with affected customers to secure their accounts. Robinhood has also encouraged customers to protect their accounts using mechanisms such as two-factor authentication. In a push notification to customers sent last week marking National Cybersecurity Awareness Month, the company said: "2FA adds a strong layer of protection for your account, even if your password is weak, reused, or becomes compromised."

When Robinhood is notified by a customer of potential fraud on their account, it restricts the account, investigates for unauthorized access, logs the user out on all devices and asks the customer to change their password, the spokesperson said.

Multiple firms and government agencies have warned consumers of increased risks of cyber crime and financial fraud, as hackers attempt to capitalize on fears about coronavirus and the fact that so many people are working from home.

Robinhood has seen a huge uptick in use during the pandemic. It announced a new round of fundraising in August that pushed its valuation to $11.2 billion.

However, the app has also faced scrutiny because the free-trading boom it inspired has given young investors access to exotic financial instruments normally used by veteran market players.

US lawmakers have pressured Robinhood to improve safeguards after the apparent suicide in June of a 20-year-old student who saw a negative account balance of $730,000. In response, Robinhood has promised to hire hundreds of financial services representatives, build more self-service tools and ramp up its educational tools.

The app also experienced an outage in early March, amid massive upheaval in the stock market, that left users frustrated. It again experienced a glitch, along with several other online brokerages, in August on the day when Apple and Tesla stocks began trading at newly split prices.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
House Republicans Move to Defund OECD Over Global Tax Dispute
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
×