Was there a safety breach at Robinhood?

ON NOVEMBER 8, 2021, Robinhood introduced the app had skilled an information breach.

The funding and buying and selling firm notified prospects that an unauthorized third party gained access to personal information.

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Was there a safety breach at Robinhood?

On November 3, 2021, an unauthorized third occasion gained entry to a slew of non-public data from a portion of Robinhood’s prospects.

Based on Robinhood, the unauthorized occasion obtained an inventory of over 5 million e-mail addresses, in addition to a separate checklist of over two million full names.

The report went on to say that roughly 310 folks’s title, date of delivery, and zip codes had been uncovered, whereas much more private data was obtained for at the least ten folks.

After the intrusion was reportedly contained, the third occasion demanded an extortion fee.

Robinhood is working with regulation enforcement to analyze the state of affairs, in addition to Mandiant, an outdoor safety agency.

What did Robinhood say in regards to the safety breach?

Within the assertion launched by the app, Robinhood Chief Safety Officer Caleb Sima wrote:

“As a Security First firm, we owe it to our prospects to be clear and act with integrity.

“Following a diligent evaluate, placing the complete Robinhood neighborhood on discover of this incident now’s the correct factor to do.”

The report from the corporate assured prospects that they do not imagine any Social Safety numbers, checking account numbers, or debit card numbers had been uncovered.

Robinhood additionally said that they do not imagine any monetary loss resulted from the incident.

Based on the report, “the unauthorized occasion socially engineered a buyer assist worker by telephone and obtained entry to sure buyer assist methods.”

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What’s Robinhood?

Robinhood is a commission-free inventory buying and selling and funding firm.

The app was based on April 18, 2013, by Baiju Bhatt and Vlad Tenev.

Their unique aim was to offer everybody entry to monetary markets, and steer away the concept that funding and buying and selling is just for the rich.

Based on their web site, the employees at Robinhood “imagine the monetary system needs to be constructed to work for everybody.”

The app for Robinhood was formally launched in 2015, and has since grown to over 31million customers.

On July 29, 2021, Robinhood went public on Nasdaq, below the inventory ticker HOOD.

Robinhood has skilled a safety breach earlier than. In 2019, 1000’s of accounts had been hacked and compromised, with hackers siphoning off buyer funds.