According to a new report, Hackers on the dark web are offering hacked Robinhood accounts for sale. The report surveyed dark web marketplaces to find that the hackers claimed to have 10,000 login keys linked to the Robinhood investment and trading app’s client trading accounts.
Although Robinhood’s customers have complained in the past that their emails have been hacked, the company assured them that a stolen email is not enough to infiltrate a brokerage account. The latest development may be the last thing the app developers want now, as it could lead to serious legal issues.
Robinhood has once again given assurance to its customers, claiming its security measures are tough and advising clients to use 2-factor authentication to protect their accounts.
The company said it recently increased its customer service team to care for more customer needs and queries. However, clients are still not showing complete confidence in the company’s security measures, with the news of a possible leak of their account details circulating on the dark web.
One customer of the platform expressed his disappointment regarding Robinhood’s lack of security measures, pointing out that it took the platform more than a month to rectify a security issue that locked him out of his account.
Other brokerage accounts were also compromised
The Robinhood accounts’ compromise was not the only alleged compromised brokerage, as contained in the report. Bloomberg discovered that about 1,000 TD Ameritrade Holding Corp accounts were also compromised, with the details offered at a dark web known as SliPP.
However, the number of Robinhood accounts for sale is far higher than the accounts of other brokerages. This indicates that the platform’s accounts are more valuable and more marketable than other brokerage accounts, an analyst pointed out.
More dark web markets springing up
Authorities have shut down many dark web markets to discourage hackers from causing more havoc online. But instead of having a decreased number, it seems the darknets have multiplied.
A recent report by CipherTrace shows that new darknet markets have launched because they are relatively easy to set up and operate. The area is of particular interest because it generates high profits for the owners. The platform encourages the exchange of various items and services such as illicit goods, drugs, login credentials, and malware.
Most parties involved in the exchange pay with Bitcoin and other crypto coins such as Monero to avoid any trace.
Presently, Hydra is seen as the biggest darknet market, which has reportedly generated over $1.2 billion since it was launched. The darknet is also the main trading center of hackers who sell stolen credentials to those who need them for further phishing attacks or other forms of future attacks.
The Robinhood app has registered millions of users this year alone, with many young and new users to stock tracking. This makes the platform an easy target for hackers looking to compromise account information and sell them on the darknet.
Author: Ali Raza