2000 accounts were compromised in the latest Robinhood hack attack despite the claims of expanding the customer service team. The affected users didn’t have luck reaching the team after the breach as the exchange suffered another series of attacks as we are reading more in our latest cryptocurrency news.
The team stated that the hackers compromised users’ email addresses outside of the platform. Robinhood is a popular retail stock investment app that still suffers from hacks and the latest one involved 2000 accounts. As the team stated earlier, the hacks involve users’ email accounts that are not connected to the platform as the company implemented safety precautions like 2-factor authentication and ID resubmission but the measures didn’t help in most cases.
Some users reported they saw signs that their emails were compromised and understood why they had been locked out of their accounts. Others didn’t quite notice any signs of a breach and were even shocked to see the stocks being sold. The major complaint during the events revolved around the poor customer service by the team since there’s no hotline to call in cases of emergency. Robinhood had previously published a post about expanding its customer experience team but the users were not happy about it. Many users still don’t have access to their accounts and cannot get a satisfactory response from the team about their funds.
Robinhood users said that their accounts were liquidated by thieves but they recounted unhelpful responses by the personal investing fintech according to a report by Bloomberg. Five customers claimed that Robinhood acted slowly because they don’t have an emergency support line. One user named Bill Hurley, a metal worker from Connecticut said that he lost about $5000 in stock and BTC in theft and commented that Robinhood responded two weeks after he requested help.
Previously, Robinhood faced a lot of regulatory issues after it rebranded the name of the service to ‘’cash management’’ and removed the references to deposit protection. The US politicians accused the company of failing to offer an increased degree of transparency for more than 850,000 customers. Also as reported, A report by CNBC showed that one client of the app filed a federal class lawsuit against it on March 4. The plaintiff named Travis Taaffe, reportedly alleges that the Robinhood crypto trading app breached its contract by failing to provide “a functioning platform” which caused traders to be unable to transfer money while the stock markets surged
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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