Trading app Robinhood hit by data breach; 7m users affected

Shares-trading app Robinhood on Monday acknowledged to have been hit with a security breach.

Hackers have accessed personal information of about 7 million users, and are actively demanding a ransom payment. Robinhood is adamant that no Social Security, Bank account, or debit-card numbers were exposed.

The company has also rejected the demand for payment.

Only full names and email addresses were accessed in the Nov. 03 breach. The company has reported the incident to law enforcement and is investigating the incident with the help of a security firm.

Robinhood shares fell by 3.1% after the breach was first reported. Over 22 million people have funds in their Robinhood accounts.

The breach was conducted by tricking an employee into filling their login information into a compromised form.

The name of the hacker group and their affiliations are currently unknown, or not disclosed to the public.