Robinhood says 1.6 million people are now on the crypto wallet waiting list

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Robinhood Markets now has 1.6 million people on the waiting list for its cryptocurrency wallet, up from 1 million just a few weeks ago, Robinhood chief operating officer Christine Brown said Tuesday.

The retail broker’s crypto wallet, which enables its users to move supported digital currencies to and from their brokerage accounts, is slated to roll out in late first quarter 2022, Brown said at a conference hosted by Decrypt and Yahoo Finance.

Earlier this week, Robinhood warned users that a hacker breached the app’s defenses and stole millions of user email addresses and more.

The perpetrator called customer support pretending to be an authorized party and tricked a Robinhood employee into granting access to the customer support computer system, a hacking technique known as “social engineering,” the company said in a blog post.

After stealing information from Robinhood, the hacker attempted to extort payments from the company, which decided to alert the police and warn users of the violation, the Post said.

“We owe it to our customers to be transparent and act with integrity,” said Caleb Sima, Robinhood’s chief security officer.

“After a careful review, it is right now to bring this incident to the attention of the entire Robinhood community.”

The attack came on late November 3, when the hacker stole about five million Robinhood user email addresses, as well as the names of about two million other members of the securities service, according to the company.

Interested in cryptocurrency? We discuss everything about crypto with WazirX CEO Nischal Shetty and WeekendInvesting founder Alok Jain on Orbital, the Gadgets 360 podcast. Orbital is available on Apple Podcasts, Google Podcasts, Spotify, Amazon Music, and anywhere you get your podcasts.

Cryptocurrency is an unregulated digital currency, not legal tender and is subject to market risks. The information provided in this article is not intended or constituted as financial advice, commercial advice, or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on perceived recommendations, Forecasts or other information contained in the article.

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