Daily Management Review

Robinhood reports leak of 7 million users data


Online broker Robinhood reported that hackers managed to get hold of some of its customers' personal data on 3 November. The attacker pretended to be a customer service employee during a phone call and gained access to some of the service's systems.

Robinhood discovered that an unauthorised third party (the exact number of hackers involved in the hack is unknown) obtained the email addresses of around 5 million platform users, as well as access to the names of another 2 million people. In addition, the attackers had access to the extended data of 310 users, including their name, date of birth and postcode.

Despite this, the company believes that none of the platform's customers suffered financially as a result of the hack.

After the information was stolen, the attacker contacted Robinhood and demanded a ransom. The company immediately contacted law enforcement and Mandiant, a cybersecurity company. Its experts noted in an email to The Wall Street Journal that Robinhood's data thief (or thieves) had already carried out similar attacks and would likely "target other companies in the coming months.

source: wsj.com