Hackers Hit Almost 2000 Robinhood Market Accounts: Report

Jafrin  |  Oct 16, 2020

Hackers have attacked almost 2000 Robinhood Market account in a recent cyber attack spree as revealed by an anonymous source that estimated the figure.

Better Customer Service Support Needed by Robinhood

According to Bloomberg's report on the hack, the trading company disclosed few details saying only a limited number of customers were struck by the attackers. The hackers gained access to users' trading accounts by breaching personal email accounts outside of Robinhood.

Post the attack, users of Robinhood took to social media platforms to complain about the poor customer support service provided by the trading giant. Users don’t even have the luxury to call the brokerage company, as it doesn’t have a customer service phone number.

The security of Robinhood's customer accounts is a top priority and something for the company. Hence, the trading platform is now considering adding a phone number support for its more than 13 million customers.

The spokesperson of the company stated, "We always respond to customers reporting fraudulent or suspicious activity and work as quickly as possible to complete investigations."

The company sent push notifications to investors to enable two-factor authentication on their trading accounts for enhanced security. The statement further highlighted that the company is planning to send more advice on security to its customers.

Online Trading Amid Pandemic

The hacking attack has only revealed the magnitude of the cyber attacking sprew that dried out customer funds in the most unexpected manner.

Victims of compromised accounts, however, reveals no sign of criminal activities were noticed on their email accounts. Some added that their trading accounts were accessed even after setting two-factor authentication.

Amid the pandemic, online trading has grown exponentially. Robinhood too grew into more popularity with its recent sign-ups of increasing users during lockdowns. In fact, In August 2020, the trading firm raised $200 million from investors and valued at $11.2 billion.

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