CitizenVectron Posted March 2, 2020 Share Posted March 2, 2020 Robinhood, a discount trading brokerage, just had a 24hr outage, and during that time may have lost thousands of users accounts. No word yet on how bad the loss is, but theoretically investments could be no longer traceable to accounts. More than that, many people have lost out on huge transactions that were supposed to go through during the outage. One man in particular is out $400k after not being able to sell his put positions: Looks like lots of people shorted the market for today, only to not be able to collect since the site/app are down. I can't see how this doesn't end the company. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 2, 2020 Share Posted March 2, 2020 Don't trust tech companies this isn't difficult to understand Quote Link to comment Share on other sites More sharing options...
CitizenVectron Posted March 2, 2020 Author Share Posted March 2, 2020 Uh 3 Quote Link to comment Share on other sites More sharing options...
Mr.Vic20 Posted March 2, 2020 Share Posted March 2, 2020 Its almost as if society's smartest slackers shouldn't be in charge of things that can cause large scale impacts. Quote Link to comment Share on other sites More sharing options...
SilentWorld Posted March 2, 2020 Share Posted March 2, 2020 I don't use Robinhood but I do use a discount brokerage. I don't do any option plays or anything like that so I'm not worried about missing one days worth of trading but what is concerning that I never thought of -- what if my account was just erased? There is insurance that theoretically should cover me but if the data is gone and I'm just like "Well, uhhh I had some stocks... but I can't remember the exact number...." that might cause a problem. I should put it all in a spreadsheet I guess just in case this happens. Quote Link to comment Share on other sites More sharing options...
Spawn_of_Apathy Posted March 2, 2020 Share Posted March 2, 2020 With an App named Robbinhood, I’m honestly surprised it didn’t have an “accounting error” and accidentally redistribute that guys 400k across the users with very small investments. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 2, 2020 Share Posted March 2, 2020 5 minutes ago, SilentWorld said: I don't use Robinhood but I do use a discount brokerage. I don't do any option plays or anything like that so I'm not worried about missing one days worth of trading but what is concerning that I never thought of -- what if my account was just erased? There is insurance that theoretically should cover me but if the data is gone and I'm just like "Well, uhhh I had some stocks... but I can't remember the exact number...." that might cause a problem. I should put it all in a spreadsheet I guess just in case this happens. Change complex, unique passwords often (every 3 months or so) don't save them on your device, always connect to bank or other financial accounts only on encrypted connections, and for your email and financial accounts require at least 2FA at minimum, token authorization if you can. That's just about all you can really do from what I know Quote Link to comment Share on other sites More sharing options...
Jason Posted March 2, 2020 Share Posted March 2, 2020 I have an account but thankfully only have the free stock they gave me when I signed up. I couldn't actually get my profile to load but I was able to do a password reset so it seems like they still have my account at least. Quote Link to comment Share on other sites More sharing options...
Jason Posted March 2, 2020 Share Posted March 2, 2020 8 minutes ago, b_m_b_m_b_m said: Change complex, unique passwords often (every 3 months or so) don't save them on your device, always connect to bank or other financial accounts only on encrypted connections, and for your email and financial accounts require at least 2FA at minimum, token authorization if you can. That's just about all you can really do from what I know That doesn't address the company losing your account information doe. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 3, 2020 Share Posted March 3, 2020 27 minutes ago, Jason said: That doesn't address the company losing your account information doe. Nothing will, but in general: don't "do" tech companies Quote Link to comment Share on other sites More sharing options...
Chris- Posted March 3, 2020 Share Posted March 3, 2020 Sad to see @b_m_b_m_b_m reach the 'horde canned goods and precious metals' point of his political fatalism. 3 Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 3, 2020 Share Posted March 3, 2020 Just now, Chris- said: Sad to see @b_m_b_m_b_m reach the 'horde canned goods and precious metals' point of his political fatalism. Wait until I feel the need to purchase firearms, then be afraid! But nothing I've said is different than basic tips any security professional would give you! And I didn't say do all your interneting through a VPN either! I think I deserve some credit for my moderation! Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 3, 2020 Share Posted March 3, 2020 2 hours ago, CitizenVectron said: Uh Reading the replies. people are pointing out that the entire API is down (so any date, right or wrong will give an error). Yet that is still amazing it's requesting the wrong day. Quote Link to comment Share on other sites More sharing options...
chakoo Posted March 3, 2020 Share Posted March 3, 2020 1 hour ago, SilentWorld said: I don't use Robinhood but I do use a discount brokerage. I don't do any option plays or anything like that so I'm not worried about missing one days worth of trading but what is concerning that I never thought of -- what if my account was just erased? There is insurance that theoretically should cover me but if the data is gone and I'm just like "Well, uhhh I had some stocks... but I can't remember the exact number...." that might cause a problem. I should put it all in a spreadsheet I guess just in case this happens. If the infrastructure was built by not a complete idiot, they should be doing db archives frequently to recover from a complete failure. I find it hard to believe that they wouldn't have that. Yet with that said, making sure you have a record trail that is verified or back by a trusted party is vitally important (bank transfers, emails from the company, etc). Quote Link to comment Share on other sites More sharing options...
Joe Posted March 3, 2020 Share Posted March 3, 2020 1 hour ago, Chris- said: Sad to see @b_m_b_m_b_m reach the 'horde canned goods and precious metals' point of his political fatalism. Nah, he just works in the insurance industry. Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted March 3, 2020 Share Posted March 3, 2020 12 minutes ago, Jose said: Nah, he just works in the insurance industry. Formerly employed by a chemical company as well Quote Link to comment Share on other sites More sharing options...
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