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Data of 7 million users compromised following Robinhood breach

Remember Robinhood? It was one of the trading platforms involved in the GameStop stock incident at the beginning of the year. Now Robinhood is in the news again, not because of the crypto wallet it is developing, but rather over a data breach.

Said breach was suffered on 3rd November, with the platform issuing a blog post to provide an update on the situation.

“Late in the evening of November 3, we experienced a data security incident. An unauthorized third party obtained access to a limited amount of personal information for a portion of our customers,” it explained.

“Based on our investigation, the attack has been contained and we believe that no Social Security numbers, bank account numbers, or debit card numbers were exposed and that there has been no financial loss to any customers as a result of the incident,” added the trading platform.

While the company says no critical financial data was compromised during the breach, it does note that as may as 7 million users were impacted as a result, with their email addresses in particular being taken, according to Robinhood.

As such, it is likely a good idea to reset your passwords and do a bit of checking on HaveIBeenPwned to verify your status.

As for how this happened, Robinhood confirmed that this was not some elaborate hack or brute force entry of its network, but rather some simple social engineering, which was recently cited by Twitter in a data breach too.

“The unauthorized party socially engineered a customer support employee by phone and obtained access to certain customer support systems. At this time, we understand that the unauthorized party obtained a list of email addresses for approximately five million people, and full names for a different group of approximately two million people,” said Robinhood.

“We also believe that for a more limited number of people—approximately 310 in total—additional personal information, including name, date of birth, and zip code, was exposed, with a subset of approximately 10 customers having more extensive account details revealed. We are in the process of making appropriate disclosures to affected people,” the company highlighted.

As has been the case throughout the pandemic, cybersecurity incidents are on the rise and as such, not even the most secure platforms are impervious to breaches.

 

 

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