Crypto Apps, Fraud and Scams, News & Updates

Robinhood Hack is Massive than before

As recently reported, hackers have targeted the customers of a crypto-friendly brokerage firm named Robinhood since September. The firm also indicated that “a limited number” of victims had an amount of money that was stolen from them.

According to the reports, the actual number is going near 2,000 Robinhood Market accountholders. Which an individual assumes is “limited” from Robinhood’s perspective, given that it is now holding more than 13 million customers.

Robinhood states that a hacker could mark the customers by acquiring access to their email accounts, although not all clients approve of that assessment. The company has then recommended the patrons’ used two-factor authentication, although some say they didn’t help.

However, it is uncertain whether it is personal security or a universal problem that affects the platform.

The company allowed users to trade stakes and cryptocurrencies like Bitcoin and Ethereum thru the Robinhood app.

On the other hand, it is not yet clear how much money had been stolen; also, Robinhood hadn’t provided an exact figure on how many accounts have been affected.

The brokerage has also previously gone under criticism for transparency issues. The SEC is currently investigating if it has failed to inform the traders that it was selling their trades to other firms that had to be executed.

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