Consumer complaint received 2024-12-10 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: ROBINHOOD MARKETS INC.
State: FL

Complaint narrative:
Sent over half of an ethereum token to my account amounting in over {$2000.00} as of the date of this writing. 

Robinhood shows an QR code and states that to send eth on ethereum networks. No where did they define or explain what they mean by ethereum networks not properly explaining to the myself the consumer what their definition of ethereum networks is. I then sent XXXX on the XXXX XXXX XXXX XXXX chain. Which is a Layer of the ethereum network and processes transactions on the ethereum network. After sending my tokens I never received my funds. After reaching out to inquire about the transaction I received this reply. 





" Hi there, Thank you so much for reaching out and we appreciate you for patiently waiting. This is XXXX and I am part of the leadership team within Robinhood Support. I hope this email finds you well. 



We have reviewed your past case and as we valued all of our beloved customers, this will be a follow up email that can help you for your account concern. 



I know where you are coming from and to set proper expectations, your Robinhood Crypto account is entirely self-directed, which means all transactions and wallet transfers made are your responsibility as the account holder. 

Because of this, along with the irreversible nature of blockchain transactions, we are unable to reverse this incorrectly initiated transfer. We encourage all users to double check and ensure that their crypto is being delivered to the correct wallet address prior to initiating a transfer to avoid situations like this in the future. 

Please let us know if you need more assistance. We'd be more than happy to assist. 



Thank you for being a valued customer of Robinhood. 



Sincerely, XXXX '' According to this message they said that my account was entirely self directed and that they will not provide me any funds. Upon asking any additional questions they refuse to answer any questions and provide this message again but with a different name as the support rep. They are not reviewing anything and are just auto sending these messages and providing no real explanations. 

I sent XXXX to my account on an ethereum network. But they keep refusing to provide me my funds. 

Additionally : Something That I believe district attorneys will and should take up against robinhood is that among the generic writing with no explanations or definitions. The support message states that everying is entirely self directed and that it is entirely my responsibilty to handle the wallets transfers and transactions. So since it was on the XXXX network and on the robinhood wallet I asked for the keys because it was entirely self directed as they stated to which they have not replied. 

XXXX maintains complete control of the wallet which means that it is not entirely self directed. It is directed however robinhood would like. 

I sent XXXX on an XXXX network to robinhood. I have proof also that they have received the funds through the ethereum blockchain. All transactions of XXXX are processed on the ethereum network. That is why when you review the address it shows that my money is there but robin hood refuses to reply, provide any communication, provide the keys to the wallet or credit me the rightful amount. Additionally there is no explanation on why robinhood has taken my ethereum on the ethereum network. If i sent it to the wrong place it shouldnt be showing as attached to the wallet which robinhood told me because they are directing me. Additionally robinhood has no information or explanation of what happens to the funds since they hold the keys to the wallet this is complete theft because they are not following through on their service nor transfering back, crediting or providing the keys to fix the issue. They hold custody of my money and are acting like its lost when they have control of it because I sent it to the ethereum wallet they directed me to. 

Robinhood should be thoroughly investigated by the CFPB and the XXXX XXXX for anti consumer practices and theft. Along with misleading the customers due to not properly providing enough definitions, descriptions, and teaching their definition of ethereum network. The ethereum network to many is the transactions that utilize the ethereum blockchain which is what I did.

Company response to consumer: Closed with explanation