It’s Not Just Crypto: 2,000 Robinhood Accounts Compromised

• Hackers had a field run a couple of days ago, targeting the popular retail-oriented trading application Robinhood.

• Almost 2,000 Robinhood Markets accounts were compromised in a spree that saw customers’ funds siphoned off, according to a Bloomberg report.

• Robinhood disclosed that a “limited number” of their customers had been struck by hackers who managed to gain access through breaches of personal email accounts outside of the application.

• “The security of Robinhood customer accounts is a top priority and something we take very seriously.” – The company said in a statement.

• The trading application reportedly has over 13 million customer accounts and is considering whether to add a phone number in combination with other tools, a person familiar with the matter told Bloomberg.

• A few of the victims said that they failed to find any signs of criminals compromising their emails. On the other hand, however, some said that their brokerage accounts were compromised despite the two-factor authentication.

• In late 2019, a massive email breach took place at one of the most popular Bitcoin margin trading exchanges, BitMEX. The company clarified that nothing beyond email addresses was leaked, though this raised serious concerns with respect to the security measures put in place.

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• The latest events show that it’s not just the cryptocurrency field that hackers are targeting but also traditional market trading applications and services, highlighting the importance of turnkey security solutions.