2,000 Robinhood accounts hacked. Clients loss their funds

A recent cyberattack ended up with the hacking of almost 2,000 Robinhood accounts, transferring the affected clients’ funds to other platforms. This information was shared by an anonymous source close to the incident. 

News platform Bloomberg first reported about the hacking a few days ago, so the online brokerage platform started disclosing a few details. According to Robinhood, a limited number of customers had been affected by a security incident involving unauthorized access to an internal Robinhood account.

Multiple affected clients started complaining about the incident through social media, as Robinhood has no customer service platforms. The company, with nearly 13 million active users, announced it will enable a call center to answer the clients’ doubts: “We always try to respond customers about fraudulent activity reports; we’re working to correctly complete our investigation”.

A couple days ago, Robinhood started sending notifications to users, suggesting them to enable multi factor authentication as a measure to fully protect their accounts. As per the informant, multiple affected users assure they had 2FA enabled on their accounts, which granted them no help against threat actors.

Even though Robinhood has said it will quickly secure its customers’ assets, users keep saying their accounts are not secured enough. Miah Laino, who works at a home-improvement store in Arizona, thought her account was secure as she had 2FA enabled and even followed additional Robinhood recommendations; nonetheless, her account was hacked during this massive incident: “I started receiving emails and notifications saying that my stock were being sold; it’s like if you wake up at 4 a.m. and your house is on fire”, Laino said.

Laino said the brokerage restored her account and stock holdings, but she is considering to move her assets to a better secured platform: “I’m not planning to sell right now, but I’m not going to put any more money into it; they breached our confidence”, she concluded.