Robinhood Data Breach Leaks Personal Details of 7 Million Users
The breach happened on 3 November, hackers stole password from support employee and gained access to the data of 7 million users.
Although exchange representatives stated that important data (bank account & social security numbers) wasn’t stolen, RobinHood shares have fallen by 3.1%.
Centralized services regularly face data leaks (recall the recent Facebook leak with 1.5 billion users)
But not every service uses the latest solutions for data storage security and distributing rights between service <-> users.
The most obvious solution is to store data in a decentralized way. The user should have full access to his personal data, and the service should have limited access to information.
The DAO is a good example of organization with this type of management.
Despite RobinHood’s works with crypto, the users’ data was stolen using good old social engineering methods.
If even such technological giants make such mistakes, it’s scary to think what awaits the rest of the services.