Sources close to the matter had gone to Bloomberg on Thursday, stated that almost 2,000 brokerage accounts had been compromised by a cyberattack at Robinhood. This attack allowed hackers the ability to take over the funds and trades of the users, sources claimed.
Going From “Limites Numbers” To Almost 2K
The recorded number of hacked accounts stands far more than was previously thought. Last week, Robinhood had disclosed that a “limited number” of accounts had become a target of hackers. This was after their personal data was compromised outside of the platform itself.
A source at Bloomberg, claiming knowledge of an internal review, stated that the number of hacked accounts saw an increase due to the continued investigations into it. Even so, it took two more weeks for Robinhood to finally admit that a larger number of accounts had been accessed improperly on its platform.
Putting OUt Fires Left And Right
This security breach is thought to be the biggest one in the history of Robinhood, and is a particularly vicious one, as it’s claimed that the hackers managed to steal clients’ brokerage accounts who claimed to have two-factor authentication in place, as well.
Many users have lodged complaints detailing how the hackers had liquidated their respective investments, withdrawing balances to various online payment apps, such as Revolut. Revolut, in particular, stated that it is aware of the issue, and is currently in the process of investigating the matter at large.
Even so, it couldn’t be definitively concluded as to exactly how many accounts were affected in this hack. One of the spokespeople of the company explained that not all of the customers on the platform were alerted, with Robinhood opting to instead notify those that had their credentials affected by the discovery.
Some Things Not Adding Up
One user, in particular, was interviewed and stated that he’d be hard-pressed to believe the issue didn’t occur due to a system breach. This is due to none of his other accounts having been hacked in the process.
Further statements from this user include that he can’t get a proper form or response by Robinhood about the matter, as well. The user highlighted that he had cash management on the account as well, and was subsequently convinced that FDIC insurance was applicable as soon as the sold stock funds hit the account. Again, however, the user highlighted that Robinhood had not given any response. The user further highlighted that there is a considerable amount of cash within the account that he doesn’t have access to anymore.