Tech&Innovation

RobinHood Data Breach Exposes Millions of customers information

With much of data security becoming a huge issue, millions of companies have been unreliable in keeping everyone’s data safe and secure. Recently, Robinhood a popular stock trading app has been breached exposing around 7 million users. So the question is, what was exactly leaked?

The largest part of the breach leaked email addresses for about 5 million customers, according to the company’s press release, with full names being leaked for a separate 2 million customers. That same press release indicated that 310 people may have names, dates of birth and ZIP codes leaked, and “more extensive account details” for roughly 10 customers. No Social Security, bank account, or debit card information is believed to have been exposed. The company says it’s in the process of contacting the people affected by the breach. 

With cyber security becoming a huge issue it has led major cyber security tech companies to rise in value. Today on November 8th, Palo Alto Networks, CrowdStrike, CheckPoint, and Fortinet all had major jumps value. So what is common between them? They are all cybersecurity companies that have been gaining more and more traction with recent security issues.

A good example of the increase in damage would be the increase in the use of ransomware which is a method of hacking that requires a user to pay money to access their own computer. According to a report from Palo Alto Networks’ Unit 42 security consulting group, the average ransomware payment climbed 82% to a record $570,000 in the first half of 2021 from $312,000 in 2020. Even the US Treasury said that it has tied $5.2 billion in BitCoin transactions to ransomware payments.

The major increase in data breaches shows the urgency to improve cyber security in our big tech companies today. We hope that with better ways to defend these breaches we will see a decrease in cyber crimes.

Source: https://www.cnet.com/tech/services-and-software/robinhood-data-breach-exposed-7-million-customers/
https://www.forbes.com/sites/chuckbrooks/2021/10/24/more-alarming-cybersecurity-stats-for-2021-/?sh=3d65983c4a36

Categories: Tech&Innovation