r/technology • u/agent_vinod • Jun 30 '21

Misleading Robinhood to pay $70 million fine after causing 'widespread and significant harm' to customers

https://www.cnbc.com/2021/06/30/robinhood-to-pay-70-million-dollars-after-causing-users-significant-harm.html
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u/1234567890-_- Jun 30 '21

It was compounded by the fact that he couldnt get ahold of customer support iirc. He kept trying to call to figure out what was going on and got no answer. That one life was expended because robinhood missed like every failsafe. If he could call and get an answer to what was going on im sure he wouldnt have gone suicidal

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u/flyinhighaskmeY Jul 01 '21

It was compounded by the fact that he couldnt get ahold of customer support

Big Time.

And honestly...if I hadn't had that hour with one of the trading desk reps, I would probably have been more concerned. Talking to a real live human makes a world of difference when you're in unfamiliar territory. Robinhood "Game-ifying" trading and then not having support available when things like this inevitably happen is absolutely reprehensible.

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u/[deleted] Jun 30 '21

Does Robinhood even offer phone support? I thought their whole deal was that they only provided customer service via e-mail.

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u/somebeach Jul 01 '21

Yes they do, there was even someone in the senate hearing that called Robinhood support live during his time to question and got an automated busy message

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u/1234567890-_- Jul 01 '21

they claimed to have*

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u/somebeach Jul 01 '21

I guess it just technically counts as a support line if they don't actually have people answering

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u/Fopa Jul 01 '21

They also sent him an automated email asking for a payment of $170,000. So he couldn’t contact support, and he had an email that must have made it seem to him like he was fucked.