Wednesday, 1 December, 2021

Robinhood trading app hit by data breach affecting seven million

  • Sun Online Desk
  • 10th November, 2021 05:03:50 PM
  • Print news


US share-trading app Robinhood has been hit by a security breach that has exposed the names or email addresses of more than seven million people, BBC reported.

The company says the breach affected "a limited amount of personal information for a portion of our customers".

And it does not believe the most sensitive information it gathers - US social security numbers and financial information - was revealed.

Robinhood said it had rejected a demand for payment and reported the attack.

Such ransom demands are not uncommon in cyber-attacks.

Instead of complying with what it called "extortion", Robinhood hired an external cyber-security firm to help deal with the incident.

The breach happened on 3 November through what's known as "social engineering".

It affected five million people whose email addresses were compromised and the full names of a further two million.

Robinhood also said a much smaller group of about 310 people had much more information exposed - including names, dates of birth, and US zip codes.

A further 10 or so had "more extensive account details revealed", it said.

Robinhood is available only to US users and requires them to be over 18, provide a valid social security number, and a valid US address.

The app, which allows for low-volume share trading by ordinary people looking to invest, exploded in popularity earlier this year and was widely used by speculative investors behind the GameStop trading frenzy.