Dachsie
13th October 2020, 05:42 AM
Just ran across these two notices about no-fee brokerage ap called Robinhood and the risks of investing in the digital age.
I just encountered the same deception and lack of customer service from a large medical practice where I am a so far, virtual patient of one of their doctors. I was "sold a bill of goods." Not as advertised. Not honest. Not secure.
All of these apparent SCAMS are said to be due to or related to that convenient culprit -- the "pandemic.
Notice in the the first article below...
"Bill Hurley, who owns a metal fabrication shop in Windsor, Connecticut, said he received notifications that stock and Bitcoin had been sold from his account on Sept. 21 and that $5,000 was transferred to Revolut accounts in two transactions. He said he emailed Robinhood for assistance while the transactions were pending but received none.
“They’ve had more than enough time to deal with this,” he said."
So your digital currency can be stolen just as other financial assets.
All systems down.
Be careful.
__________________
https://www.investmentnews.com/robinhood-users-accounts-looted-197968
"Robinhood users say accounts were looted
Customers say they've been left in limbo since the popular app has no emergency phone number they can call
October 9, 2020 By Bloomberg News Bloomberg News
3 MINS
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.
Bagheri is among five Robinhood customers who recounted similar experiences to Bloomberg News, saying they’ve been left in limbo in recent weeks after someone sold their investments and withdrew funds. Because the wildly popular app has no emergency phone number, some said they tried in vain to intervene, only to watch helplessly as their money vanished.
“A limited number of customers appear to have had their Robinhood account targeted by cyber criminals because of their personal email account (that which is associated with their Robinhood account) being compromised outside of Robinhood,” a spokesman for the company said in an email. “We’re actively working with those impacted to secure their accounts.”
The issue didn’t stem from a breach of Robinhood’s systems, the spokesman said.
SEC, FINRA
Bagheri, a Washington attorney, and three other Robinhood users said they also contacted authorities including the Securities and Exchange Commission and the Financial Industry Regulatory Authority Inc. Two of those customers said they have heard back from an official at the SEC seeking more information."SNIP
___________________
https://www.investmentnews.com/robinhood-outage-technology-189435
Robinhood outage underscores risks of investing in the digital age
Robinhood outage underscores risks of investing in the digital age
"No system can ever be foolproof, so it's imperative that brokerages like Robinhood build-in the necessary fail-safes so people can always access their money"
March 4, 2020 By Ryan W. Neal Ryan W. Neal
4 MINS
"It’s been a rough week for do-it-yourself investors who use Robinhood, the mobile brokerage app that exploded in popularity by offering free trading long before the rest of the brokerage industry.
As global markets rebounded Monday from last week’s sell-off, and as the Dow experienced its biggest point gain since 2009, Robinhood was inaccessible to its millions of customers for the entire trading day, shutting its users out of any potential gains. Service was restored on Tuesday.
The investors who were hurt most were those who purchased options, one of Robinhood’s most touted features, betting markets would continue falling Monday. When markets instead surged, Robinhood investors were unable to sell the options and had to eat the losses. " SNIP
I just encountered the same deception and lack of customer service from a large medical practice where I am a so far, virtual patient of one of their doctors. I was "sold a bill of goods." Not as advertised. Not honest. Not secure.
All of these apparent SCAMS are said to be due to or related to that convenient culprit -- the "pandemic.
Notice in the the first article below...
"Bill Hurley, who owns a metal fabrication shop in Windsor, Connecticut, said he received notifications that stock and Bitcoin had been sold from his account on Sept. 21 and that $5,000 was transferred to Revolut accounts in two transactions. He said he emailed Robinhood for assistance while the transactions were pending but received none.
“They’ve had more than enough time to deal with this,” he said."
So your digital currency can be stolen just as other financial assets.
All systems down.
Be careful.
__________________
https://www.investmentnews.com/robinhood-users-accounts-looted-197968
"Robinhood users say accounts were looted
Customers say they've been left in limbo since the popular app has no emergency phone number they can call
October 9, 2020 By Bloomberg News Bloomberg News
3 MINS
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.
Bagheri is among five Robinhood customers who recounted similar experiences to Bloomberg News, saying they’ve been left in limbo in recent weeks after someone sold their investments and withdrew funds. Because the wildly popular app has no emergency phone number, some said they tried in vain to intervene, only to watch helplessly as their money vanished.
“A limited number of customers appear to have had their Robinhood account targeted by cyber criminals because of their personal email account (that which is associated with their Robinhood account) being compromised outside of Robinhood,” a spokesman for the company said in an email. “We’re actively working with those impacted to secure their accounts.”
The issue didn’t stem from a breach of Robinhood’s systems, the spokesman said.
SEC, FINRA
Bagheri, a Washington attorney, and three other Robinhood users said they also contacted authorities including the Securities and Exchange Commission and the Financial Industry Regulatory Authority Inc. Two of those customers said they have heard back from an official at the SEC seeking more information."SNIP
___________________
https://www.investmentnews.com/robinhood-outage-technology-189435
Robinhood outage underscores risks of investing in the digital age
Robinhood outage underscores risks of investing in the digital age
"No system can ever be foolproof, so it's imperative that brokerages like Robinhood build-in the necessary fail-safes so people can always access their money"
March 4, 2020 By Ryan W. Neal Ryan W. Neal
4 MINS
"It’s been a rough week for do-it-yourself investors who use Robinhood, the mobile brokerage app that exploded in popularity by offering free trading long before the rest of the brokerage industry.
As global markets rebounded Monday from last week’s sell-off, and as the Dow experienced its biggest point gain since 2009, Robinhood was inaccessible to its millions of customers for the entire trading day, shutting its users out of any potential gains. Service was restored on Tuesday.
The investors who were hurt most were those who purchased options, one of Robinhood’s most touted features, betting markets would continue falling Monday. When markets instead surged, Robinhood investors were unable to sell the options and had to eat the losses. " SNIP