Some Robinhood accounts looted

Hi,

just read in the news that some Robinhood users’ accounts have been looted (shares sold and cash withdrawn):
https://www.bloomberg.com/news/articles/2020-10-09/robinhood-users-had-accounts-looted-say-there-s-no-one-to-call?srnd=premium-europe

Just made me wonder if you guys heard of it, and this issue cannot happen to Freetrade users?

Cheers
JK

“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,”

As long as you don’t use a compromised email, I’m sure you’ll be fine.

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I think we can withdraw only to linked account. What is the process of changing account - is it easy and fast? Could scammers do it?

Hi all,

As @Johhny said, you can only withdraw funds to a linked bank account. We have stringent controls in place for when someone wants to change the bank account they’re linked to. Looking at the Bloomberg article, it seems that similar processes were not in place for these customers. We take your security very seriously, so we have many processes in place to make sure your funds are secure.

Thanks,

David

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