Robinhood Traders, Including Bitcoin Holders, Left in the Lurch Following Theft: Report

Oct 9, 2020 at 19:54 UTCUpdated Oct 9, 2020 at 20:04 UTC.A handful of Robinhood users who said their accounts had been liquidated by thieves recounted less-than-helpful responses by the personal investing fintech in a Friday report by Bloomberg News.Five customers interviewed by Bloomberg claimed Robinhood acted slowly and responded inadequately to heists against their trading accounts, in part because Robinhood has no emergency support line.

One user, Bill Hurley, a Connecticut metal worker who told Bloomberg he lost $5,000 in stock and bitcoin in a theft, said it took Robinhood two weeks to respond to his requests for assistance.

Hurley told Bloomberg he had reached out to Robinhood while the thieves were still transferring his funds to a Revolut account.

Bitcoin held on Robinhood cannot be transferred off the platform due to regulatory restrictions.

Robinhood told Bloomberg the thieves targeted individuals' email accounts and did not gain access from an internal security breach.

"We're actively working with those impacted to secure their accounts," the fintech told Bloomberg.

Robinhood did not immediately respond to multiple CoinDesk requests for comment.