Robinhood Experiences Massive Data Breach Affecting Millions of Users

robinhood app on computer

The popular online trading platform Robinhood experienced a massive data breach that affected nearly 7 million users last week.

What Happened

In this week’s statement, Robinhood indicated that the breach occurred last Wednesday. Robinhood found that an “unauthorized third party obtained access” to user information.

Stolen Data

Robinhood claims that no sensitive financial data (i.e., bank accounts, debit cards, social security numbers) was exposed in the breach. Instead, the company emphasized that the information was only limited to email addresses and full names of its users.

To put things in perspective, Robinhood has nearly 19 million users, meaning more than one third of users have been affected by the breach.

Coinbase, another popular online trading platform, experienced major issues last week as well. While there wasn’t an indication of a data breach, Coinbase suffered outages for more than 90 minutes, which prevented many users from trading.

Robinhood recommends that users check their accounts to ensure that their accounts are secure. Users can find more information on protecting their accounts here.

Click here to learn more about Vernon Litigation Group's data breach practice.

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