Robinhood is a California-based company that offers financial services to 13 million customers through its mobile app and website, enabling them to invest in stocks, ETFS and cryptocurrencies.
Announcing the hack in a statement on Thursday, the trading app confirmed that a “limited number” of customer accounts had been targeted by cybercriminals, though the Robinhood service itself had not been compromised.
Though the company did not state specifically how many accounts were affected, a Bloomberg report, citing a source with access to results of Robinhood’s internal probe, claims that up to 2,000 customer accounts had been infiltrated,.
After news of the attack broke on the internet, there was an immediate uproar by several users on social media who were unable to find a definitive means to reach the company. At the time of the event, the company did not list a customer service phone number, but a Bloomberg report later noted that Robinhood was considering adding a phone number to their list of tools.
A statement released by Robinhood read:
“The security of Robinhood customer accounts is a top priority and something we take very seriously. We always respond to customers reporting fraudulent or suspicious activity and work as quickly as possible to complete investigations.”
Robinhood is now working directly with customers who may have been affected to further secure their accounts, advising that users apply the two-factor authentication option to better secure their data. “2FA adds a strong layer of protection for your account, even if your password is weak, reused, or becomes compromised,” the company advised in a push notification sent to customers last week to mark National Cybersecurity Awareness Month.
Pan Finance is a print journal and news website providing worldwide intelligence on finance, economics and global commerce. Known for our in-depth analysis and opinion pieces from esteemed academics and celebrated professionals; our readership consists of senior decision makers from across the globe.