Robinhood Hits 1.6 Million People in Crypto Wallet Waitlist

Robinhood Hits 1.6 Million People in Crypto Wallet Waitlist

The platform's COO said that the number is up from 1 million reported just a few weeks ago.

On Tuesday, Robinhood, a leading trading platform, announced that almost 1.6 million people are already on the waitlist for its forthcoming cryptocurrency wallet. According to Reuters, citing Christine Brown, Chief Operating Officer at the company, the figure is up from 1 million posted just a few weeks ago.

The service is set to be launched in the first quarter of 2022, which will allow Robinhood users to move supported virtual currencies in and out of their accounts. However, the executive didnt provide further details about the matter during a conference held jointly by Decrypt and Yahoo! Finance.

Last week, Robinhood announced that it supports Directed Share Programs (DSPs) through IPO Access. The service allows retail investors to buy shares at the IPO price. The feature looks forward to the company to reserve a portion of IPO shares for a specific group of people. Then, the platform will distribute these shares to select individuals through the program, Robinhood added.

Data Breach

Still, the platform was in trouble on Sunday after a data breach was reported. It reportedly took place on November 3, resulting in the exposure of the personal details of millions of customers.

The attacker has obtained the emails of 5 million Robinhood customers and the full names of another 2 million customers. In addition, more personal information, including name, date of birth, and zip code, was exposed for a small group of approximately 310 customers.

However, the platform stressed that none of the social security numbers, bank account numbers, or debit card numbers were exposed with no financial losses. “We are in the process of making appropriate disclosures to affected people,” the announcement stated. Additionally, the attacker demanded a financial amount from the trading platform after the intrusion was contained.

The platform has already reported the breach to law enforcement and is investigating the breach with a third-party security firm, Mandiant.