Robinhood Shares Hit Historic Lows amid Data Breach


The leak of a million of Robinhood client data occurred due to access to the admin panel of an online broker, Vice has found out.

Popular trading app Robinhood suffered a security breach last week where hackers accessed the broker's admin panel. Vice edition writes about this with a link to screenshots of the Robinhood administration panel.

The company itself had previously admitted that the hackers had gained access to some personal information of roughly 7 million users then demanded a ransom payment.

Robinhood Shares Hit Historic Lows amid Data Breach

According to the screenshots that Vice got at its disposal, the attackers gained access to the admin panel, where, among other things, they could:

xm.com
95/100
xm.com Review
Visit Site
eToro
90/100
eToro Review
Visit Site
XTB
80/100
XTB Review
Visit Site
  • disable multi-factor authentication protection;
  • deauthorize the user;
  • add another trusted device to a specific user;
  • block access from certain sessions to the account.

Moreover, attackers could also view sensitive information about users, including client balances and transactions. Vice says the screenshots were given by a "hacker confidant."

Read also: Robinhood Faces Class-Action Lawsuit Over Repeated Outages

Robinhood said that only "a few authorized employees" can edit accounts as needed. However, Robinhood did not specify exactly how the attackers managed to gain access to privileged administrators.

Source: tradingview.com

The news of access to the admin panel almost immediately affected the price of Robinhood shares. At the moment, the price of HOOD shares fell to an all-time low of $33.8. Market capitalization shrank to $29.6 billion.

As a reminder, shares of Robinhood plunged below its IPO price from earlier this year, a day after the company reported third-quarter earnings that substantially missed expectations because of a sharp drop in crypto trading.

Think we missed something? Let us know in the comment section below.

Leave a Reply

Your email address will not be published. Required fields are marked *