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Robinhood Data Breach: Personal Data of 7 Million Customers Leaked From Stock Trading Platform

NEW DELHI: Robinhood, the stock trading platform best known for its link with the GameStop rollercoaster discovered that it had a data breach on Nov. 3. According to the organisation, the breach impacted a little more than 7 million consumers, with varied quantities of data being exposed.

Last week, an unauthorised third-party socially engineered a customer care representative over the phone and gained access to the stock-trading app’s customer support services.

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“At this point, we believe the unauthorised party received a list of around five million email addresses, as well as full names for a separate group of approximately two million persons,” the company said in its blog.

The attack has been contained, and the company claims that no social security information, bank account numbers, or debit card data were leaked, and that “no clients have suffered any loss as a result of the incident.”

“We also believe that for a more limited number of people — approximately 310 in total — additional personal information, including name, date of birth, and zip code, was exposed, with a subset of approximately 10 customers having more extensive account details revealed,” the trading platform revealed.

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According to Robinhood, the hackers requested an extortion payment, and the company alerted law enforcement and was still investigating the matter with the help of cyber security firm Mandiant.

“We owe it to our clients as a Safety First company to be upfront and act with integrity,” Robinhood Chief Security Officer Caleb Sima said.

“Putting the whole Robinhood community on notice of this occurrence now, following a thorough assessment, is the proper thing to do,” Sima added.

The hack happened late on November 3.

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Robinhood has grown in popularity, especially since it accompanied GameStop on its big stock ascent, which began in 2021 with an increase in trading using the site. This was followed by an increase in stock prices for AMC, American Airlines, and other corporations, with consumers exchanging more and more of their stakes inside a company.

The Robinhood platform has revolutionised the stock trading market, becoming one of the most popular locations to own and invest in, while also increasing one’s wealth. However, many individuals have questioned its safety and validity in recent months, particularly since it has also focused its efforts on Bitcoin.

Robinhood’s data breach has put a significant dent in its popularity and services, especially because it involved personal information. Data is inextricably tied to money and other sensitive information, making a person feel uneasy.

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