Popular investing app Robinhood said Monday that it suffered a security breach last week where hackers accessed some personal information for roughly 7 million users and demanded a ransom payment.
The online trading platform said that it believes no Social Security numbers, bank account numbers or debit-card numbers were exposed and that customers have seen no financial losses because of the intrusion.
For the vast majority of affected customers, the only information obtained was an email address or a full name. For 310 people, the information taken included their name, date of birth, and ZIP code. Of those, 10 customers had “more extensive account details revealed,” Robinhood said in a statement.
Robinhood said that after it contained the intrusion, “the unauthorized party demanded an extortion payment.” The company said it notified law enforcement and is investigating the incident with the help of the security firm Mandiant.
More than 22 million users have funded accounts at Robinhood, with nearly 19 million actively using theirs during September.
Robinhood shares fell 3.1% in after-hours trading.
Small business reporter, Gene Marks, joins Cheddar to give analysis on how small businesses are tackling incoming tariffs and how it will affect the consumer.
Babylist CEO Natalie Gordon joins Cheddar to discuss how the website is helping new parents, how to make a registry and how secondhand options are available.
ReturnPro CEO Sender Shamiss to discuss how his company is changing the way we make returns and how Trump's tariffs are affecting the return business. Watch!
Chris Beauchamp, Chief Market Analyst at IG International, joins J.D. Durkin to give analysis on the recent trade truce between the U.S. and China. Watch!
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
DJ X, alongside Molly Holder, Senior Director of Product Personalization, takes us inside Spotify's A.I. DJ and how it's the best new way to listen to music.