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Robinhood Users Say Accounts Were Looted, No One to Call

  • Brokerage says systems not breached, criminals targeted emails
  • The SEC has reached out to customers in response to complaints
Bloomberg business news
Robinhood's Popularity Exposes Flaws
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It took Soraya Bagheri a day to learn that 450 shares of Moderna Inc. had been liquidated in her Robinhood account and that $10,000 in withdrawals were pending. But after alerting the online brokerage to what she believed was a theft in progress, she received a frustrating email.

The firm wrote it would investigate and respond within “a few weeks.” Now her money is gone.