{"id":2209,"date":"2020-10-12T05:31:12","date_gmt":"2020-10-12T05:31:12","guid":{"rendered":"https:\/\/businessner.com\/?p=2209"},"modified":"2020-10-12T05:31:12","modified_gmt":"2020-10-12T05:31:12","slug":"robinhood-users-are-reporting-looting-activities-inside-the-account","status":"publish","type":"post","link":"https:\/\/businessner.com\/robinhood-users-are-reporting-looting-activities-inside-the-account\/","title":{"rendered":"Robinhood Users are Reporting Looting Activities Inside the Account"},"content":{"rendered":"<p>Five Robinhood users reported scamming activities inside the platform without getting any solution from the authority, <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2020-10-09\/robinhood-users-had-accounts-looted-say-there-s-no-one-to-call?srnd=premium\">reported Bloomberg<\/a>.<\/p>\n<p>One customer named Soraya Bagheri found 450 shares liquidated by unknown entities. However, Robinhood&#8217;s response was \u201cfrustrating\u201d according to the user.<\/p>\n<p>According to Bagheri, she notified the brokerage company immediately where she expected a quicker response. But the Robinhood team responded with a mail for investigation within a week.<\/p>\n<blockquote class=\"td_quote_box td_box_center\">\n<p style=\"text-align: left\">They don\u2019t have a customer service line, which I\u2019m quite shocked about.<\/p>\n<\/blockquote>\n<p>This created frustration among the users as the hackers took over their accounts and allegedly looted thousands of dollars.<\/p>\n<p>A spokesman said, \u201cWe\u2019re actively working with those impacted to secure their accounts.\u201d<\/p>\n<ul>\n<li>Recent Stories:\u00a0<a href=\"https:\/\/businessner.com\/nobel-prize-winners-what-you-missed-about-the-1-million-prize-in-2020\/\">Nobel Prize Winners: What You Missed About the $1 Million Prize in 2020<\/a><\/li>\n<li>Recent Stories:\u00a0<a href=\"https:\/\/businessner.com\/apple-might-expose-the-new-iphone-12-in-an-event-on-oct-13\/\">Apple Might Expose the New iPhone 12 in an Event on Oct 13<\/a><\/li>\n<\/ul>\n<h2>Robinhood Users Seeking Help from the SEC and FINRA<\/h2>\n<p>Four of the users appealed to the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) to look at the matter. The authorities responded with seeking more information.<\/p>\n<figure id=\"attachment_2214\" aria-describedby=\"caption-attachment-2214\" style=\"width: 651px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-2214\" src=\"https:\/\/businessner.com\/wp-content\/uploads\/2020\/10\/Robinhood-Users-are-Reporting-Looting-Activities-Inside-the-Account-Screenshot.jpg\" alt=\"Robinhood Users are Reporting Looting Activities Inside the Account\" width=\"651\" height=\"172\" srcset=\"https:\/\/businessner.com\/wp-content\/uploads\/2020\/10\/Robinhood-Users-are-Reporting-Looting-Activities-Inside-the-Account-Screenshot.jpg 651w, https:\/\/businessner.com\/wp-content\/uploads\/2020\/10\/Robinhood-Users-are-Reporting-Looting-Activities-Inside-the-Account-Screenshot-300x79.jpg 300w\" sizes=\"(max-width: 651px) 100vw, 651px\" \/><figcaption id=\"caption-attachment-2214\" class=\"wp-caption-text\">Source: Nytimes<\/figcaption><\/figure>\n<p>However, both the authorities declined to comment on the issue. Interestingly, multiple clients complained about the account funds disappearing this year although the company reported doubling the customer-service agents.<\/p>\n<p>Soraya Bagheri said, \u201cThey don\u2019t have a customer service line, which I\u2019m quite shocked about.\u201d<\/p>\n<h2>Popularity Exploding in Recent Years<\/h2>\n<p>The California-based online brokerage company got viral among the retail stock traders in just seven years. According to the experts, pandemic helped the company to grow as the stock prices started to swing.<\/p>\n<p>Many home stuck Americans and millennials during the pandemic started diving inside the platform for a quicker profit.<\/p>\n<p><a href=\"https:\/\/www.nytimes.com\/2020\/07\/08\/technology\/robinhood-risky-trading.html\">A recent report from the New York Times<\/a> showed that \u201cMillions of young Americans have begun investing in recent years through Robinhood. The ease of trading has turned it into a cultural phenomenon and a Silicon Valley darling, with the start-up climbing to an $8.3 billion valuation.\u201d<\/p>\n<p>Despite the growing number of customers the company failed to provide quick services to the customers. Many experts in the financial markets are complaining about the brokerage for bringing a devastating results to the young traders.<\/p>\n<hr \/>\n<p>Read More:\u00a0<a href=\"https:\/\/businessner.com\/uk-fashion-companies-facing-a-collapse-due-to-the-pandemic\/\">UK Fashion Companies Facing a Collapse Due to the Pandemic<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Five Robinhood users reported scamming activities inside the platform without getting any solution from the authority, reported Bloomberg. One customer named Soraya Bagheri found 450 shares liquidated by unknown entities. However, Robinhood&#8217;s response was \u201cfrustrating\u201d according to the user. According to Bagheri, she notified the brokerage company immediately where she expected a quicker response. But [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2211,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"","_seopress_titles_title":"Robinhood Users Report Scamming Activities, No Solution from Authority","_seopress_titles_desc":"Five Robinhood users reported scamming activities inside the platform without getting any solution from the authority, reported Bloomberg.","_seopress_robots_index":"","tdm_status":"","tdm_grid_status":"","footnotes":""},"categories":[40],"tags":[763,764,765,762,686],"_links":{"self":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/2209"}],"collection":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/comments?post=2209"}],"version-history":[{"count":5,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/2209\/revisions"}],"predecessor-version":[{"id":2216,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/posts\/2209\/revisions\/2216"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media\/2211"}],"wp:attachment":[{"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/media?parent=2209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/categories?post=2209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businessner.com\/wp-json\/wp\/v2\/tags?post=2209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}