Consumer complaint received 2025-04-10 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Fraud or scam — 
Company: ROBINHOOD MARKETS INC.
State: CA

Complaint narrative:
XXXX XXXX, XXXX, and XXXX XXXX, XXXX Unlawful Withholding of Assets, Breach of Settlement Terms & Financial Misconduct I am submitting this formal complaint regarding the unlawful and prolonged withholding of my assets by XXXX a XXXX period during which I am denied access to my legally owned XXXX XXXX XXXX XXXX funds. XXXX XXXX ( XXXX ) on XXXX, valued at approximately {$91000.00} This restriction was imposed without clear justification or transparency, despite repeated attempts on my part to escalate and resolve the matter. 

The actions taken against my account raise serious legal and ethical concerns and appear to be part of a larger pattern reflected in XXXX 's financial behavior. 

According to your XXXX filings, XXXX XXXX on net interest income has grown significantly, making up over 40 % of total revenue in XXXX XXXX and XXXX XXXX. This income is derived from interest earned on customer funds, while most users earn a negligible 0.01 %. 

The concern is that these revenue-generating practices create a perverse financial incentive to delay the release of customer assets. In my case and in many others the extended hold appears designed to benefit XXXX financially. There is a credible concern that such delays serve to artificially inflate quarterly earnings and subsequently support stock price performance. If this is the case, it points to a systemic conflict of interest where XXXX prioritizes its own financial reporting over its duty to customers. 

In addition to the XXXX asset hold, XXXX : - Denied me the ability to withdraw cryptocurrency to my personal wallet - Blocked my wallet address without explanation - Ultimately seized and liquidated my account without due process These actions are not isolated. I have seen widespread reports from other users experiencing similar behavior : withdrawal restrictions, wallet blacklisting, sudden freezes, and unauthorized liquidations. 

Violation of XX/XX/XXXX Settlement with XXXX Attorney General In XX/XX/XXXX, XXXX entered into a {$3.00} XXXX settlement with the XXXX Attorney General, which required the company to : XXXX. Allow users to transfer cryptocurrency to personal wallets XXXX. Ensure all written representations accurately reflect practices XXXX. Clearly disclose custody arrangements and delays in user agreements Despite this settlement, XXXX continues to violate these terms. My own experience and many others ' suggests a pattern of non-compliance. XXXX appears to treat these settlements as a cost of doing business, continuing harmful practices without fear of meaningful consequence. Without enforcement, this conduct is not only allowed to continue it's rewarded. 

Clear Pattern in XXXX Filings To illustrate the financial shift : - XXXX XXXX : $ XXXX net interest income ( 23 % of $ XXXX total revenue ) - XXXX XXXX : $ XXXX net interest income ( 48 % of $ XXXX total revenue ) - XXXX XXXX : $ XXXX net interest income ( 42 % of $ XXXX total revenue ) This dramatic increase in interest income suggests XXXX has XXXX a business model around retaining control of user funds, even at the cost of violating user rights and regulatory agreements. 
I am requesting the following : XXXX. A full explanation for the XXXX hold, with legal documentation. 
XXXX. XXXX of any interest earned on my funds during that time. 
XXXX. A report on why my wallet was blocked and my assets liquidated. 
XXXX. A formal review and restitution for damages and losses. 
XXXX. XXXX investigation into the systemic withholding of customer funds and the financial motives behind it.

Company response to consumer: Closed with explanation