Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report

A handful of Robinhood users who talked about their accounts had been liquidated by thieves recounted less-than-handy responses by the deepest investing fintech in a Friday file by Bloomberg News.

  • 5 possibilities interviewed by Bloomberg claimed Robinhood acted slowly and spoke back inadequately to heists in opposition to their buying and selling accounts, in phase because Robinhood has no emergency beef up line.
  • One particular person, Bill Hurley, a Connecticut steel worker who told Bloomberg he misplaced $5,000 in stock and bitcoin in a theft, talked about it took Robinhood two weeks to answer to his requests for assistance.
  • Hurley told Bloomberg he had reached out to Robinhood whereas the thieves had been quiet transferring his funds to a Revolut fable. But he talked about he heard nothing again except Thursday.
  • Bitcoin held on Robinhood can not be transferred off the platform due to this of regulatory restrictions. It’ll, nonetheless, be cashed out.
  • Robinhood told Bloomberg the thieves centered people’ email accounts and failed to beget pick up entry to from an interior security breach.
  • “We’re actively working with those impacted to stable their accounts,” the fintech told Bloomberg. Robinhood failed to suddenly answer to an total lot of CoinDesk requests for statement.

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