Robinhood emailed some of its users Wednesday to warn that private log-ins were stored in an unsecured way.
The stock-trading app notified a group of users saying their passwords were stored in a “readable format,” meaning they were not encrypted.
These passwords were kept in an internal company log in plaintext because of a technology glitch but Robinhood says this was not discovered through a hack or security breach.The popular stock-trading app emailed some of its users Wednesday to warn that private log-ins were stored in an unsecured way. These passwords were kept in an internal company log in "plaintext," meaning they were not encrypted because of a technology glitch, Robinhood said.
The issue was first reported by TechCruch. A Robinhood spokesperson told CNBC that the company became aware of the problem on Monday evening and within 48 hours, identified it and reached out to the customers. This was not the result of a hack or security breach, the spokesperson said.
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