Consumer complaint received 2025-09-23 00:00:00
Product: Money transfer, virtual currency, or money service — Virtual currency
Issue: Other transaction problem — 
Company: ROBINHOOD MARKETS INC.
State: CA

Complaint narrative:
A few years ago, I opened an individual crypto account with the Robinhood.com exchange platform and, over time, my initial investment grew to almost {$35000.00}. 
A couple of months ago, I had to inform the exchange of my new phone number, and I followed the steps to do so on my desktop. The system asked me to identify myself with a selfie taken with their camera technology, but my XXXX was at the repair shop at that time to fix the camera feature. In the meantime, Robinhood support kept calling me, and since I was unable to answer the phone, Robinhood considered the situation a security risk and decided to inform me that the account was closed. All earned funds would be disbursed to the appropriate banks when initially drawn. 
Please be informed, this is not a complaint about the closing of my account, I accpted that, but a protest for the way the funds were not disbursed fully, with the result Robinhood held back almost {$6000.00}, and despite my multiple emails for an answer, their agents kept sending me irrelevant replies with pre-recorded messages showing total apathy from agent to agent, that indicated to me how the system at Robimhood handles inquires fro their client Subsequently, I gave them a 48-hour warning with the following email : To Whom It May Concern, After waiting for more than a month for a responsible answer to my multiple requests for clarity on handling the balance of {$5800.00} of my now closed XXXX account, I want to give you 48 hours notice before I go on X to air my complaint and file an open letter to the XXXX XXXX XXXX XXXX and make sure he is aware of this atmosphere of apathy from his support team. 
However, before I do that, with a copy of this letter I will notify the proper Legal entities online, such as the CFPB, of the situation in Robinhood and how the support team has avoided an answer to my repeated requests for delaying the disbursment of the remaining funds to my bank account as you have recorded and reported as an Individual Investment, with a close balance of {$5800.00} see attached XXXX statement 2025 from Robinhood. 
Sincerely, XXXX XXXX This is the reply I received promptly : Hi XXXX, Greetings! I hope this email finds you well. This is XXXX with Robinhood Support. 
Thank you for your patience. I can certainly provide an update on the remaining funds in your Robinhood account. These funds are being returned to their originating source. 
That means these funds will be returned back to the linked bank account or debit card they came from. If this return fails, the funds will remain in your Robinhood account until you can help us validate ownership. If this isnt possible, the remaining funds will then be subject to the appropriate state or territorys escheatment process. 

We understand this situation isnt ideal, but we appreciate your understanding. 
If you have any additional questions regarding the process of closing your account, feel free to reach back out. 

Sincerely, XXXX XXXX ID : XXXX Now I want to document what triggered this complaint in detail, as it has been reported to Robinhood support many times, and because their totally unrelated documents Request by XXXX. 

Hi XXXX, case XXXX, Thank you for the prompt reply, Your request for these unrelated documents is proof that no one paid attention to my endless communications with previous agents, who only sent me canned messages and never followed up on my case. 
The simple resolution to my case resides within the Robinhood History Page of mine, when on XX/XX/XXXX, Robinhood closed my account and sold all my crypto with a value of {$34000.00} at that time Following your record on that day, you sold my XXXX for {$18000.00}, sold my XXXX  for {$600000.00} Sold my XXXX for {$1500.00} and finally my Doge for XXXX, totaling {>= $1,000,000}. 
On XX/XX/XXXX, Robihood disbursed the following : to XXXX, {$1400.00} and {$21000.00}, and to XXXX XXXX, {$5800.00}, totaling {$28000.00}. 
Where is the balance of almost {$6000.00}? 
If someone Robinhood is unable to provide a proper answer, I will seek a resolution through the available channels, as I have previously indicated. 

Sincerely, XXXX As of today, XX/XX/year>, no answer has been sent to me related to my case, and this is the reason I filed this report with the CFPB. 

Sincerely, XXXX XXXX

Company response to consumer: Closed with explanation