Consumer complaint received 2026-06-01 00:00:00
Product: Money transfer, virtual currency, or money service — Domestic (US) money transfer
Issue: Fraud or scam — 
Company: ROBINHOOD MARKETS INC.
State: GA

Complaint narrative:
b'FINAL LITIGATION DEMAND LETTER\n\n\nTo: Robinhood Markets, Inc.\nAttn: Legal & Compliance Department\XXXX XXXX XXXX XXXX CA XXXXSubject: Second Notice of Fraud Account Takeover, Theft of Funds, and Lost Investment Profits- Acct endin:XXXX_\n\nNotice of Intent to File FINRA\nArbitration and Federal Litigation\n\nDear Robinhood Legal and Compliance,\nThis correspondence serves as my second formal notice and legal demand regarding the fraudulent takeover of my Robinhood brokerage account, which resulted in the unauthorized access, transfer, and theft of funds as well as the loss of investment profits that would have accrued from those assets.\nDespite prior notification and dispute submissions, Robinhood has failed to properly restore the stolen funds or adequately remedy the damages resulting from this fraud.\nAs a regulated broker-dealer and FINRA member, Robinhood has a legal duty to maintain reasonable cybersecurity safeguards, supervisory procedures, and fraud prevention controls to protect customer accounts and assets.\nYour failure to do so has caused significant financial damages.\nNature of the Fraud\nAn unauthorized party gained access to my Robinhood account and conducted fraudulent activity including:\n Unauthorized access to the brokerage account\n Unauthorized financial transactions\n Theft of funds from the account\n Loss of investment capital\n Loss of profits that would have accrued from legitimate investments\nThese actions were not authorized by me and constitute account takeover fraud.\nBroker-Dealer Duty of Care\nAs a registered broker-dealer, Robinhood is required to:\n Maintain adequate security controls\n Detect and prevent suspicious account activity\n Protect customer funds and securities\n Conduct proper fraud investigations\nThe failure to prevent or properly remediate this fraud constitutes negligence and breach of fiduciary duty.\nApplicable Legal Violations\nRobinhoods conduct may violate several federal statutes and regulatory rules, including:\nSecurities Exchange Act of XXXX\nBroker-dealers must maintain systems to safeguard customer assets.\nFINRA Rule XXXX\nRequires firms to observe high standards of commercial honor and equitable principles of trade.\nFINRA Rule 3110\nRequires firms to establish and maintain supervisory systems to protect customer accounts.\nSEC Regulation S-P\nRequires financial institutions to implement safeguards to protect customer information and accounts.\nComputer Fraud and Abuse Act (18 U.S.C. 1030)\nUnauthorized access to protected systems resulting in financial loss.\nElectronic Fund Transfer Act (15 U.S.C. 1693)\nFailure to properly investigate and correct unauthorized electronic transfers.\n\nFinancial Damages\nAs a direct result of this fraud and Robinhoods failure to prevent or correct the unauthorized activity, I have suffered the following damages:\n Theft of account funds\n Loss of investment capital\n Loss of investment profits and appreciation\n Financial disruption and associated losses\nThese damages continue to accumulate.\nFormal Demand for Resolution\nI hereby demand the following actions:\n1. Immediate restoration of all stolen funds\n2. Compensation for lost investment profits associated with the stolen assets\n3. A full written fraud investigation report\n4. Detailed records of all unauthorized transactions\n5. Written confirmation of corrective actions taken.\n\nNotice of Legal Action\nIf this matter is not resolved within 15 days of receipt of this notice, I will proceed with legal action including:\n FINRA Arbitration Claim against Robinhood Markets, Inc.\n Federal civil litigation for damages\n Complaints filed with:\n U.S. Securities and Exchange Commission (SEC)\n Financial Industry Regulatory Authority (FINRA)\n Consumer Financial Protection Bureau (CFPB)\n State Attorney General\nThe claim will seek:\n Full financial restitution\n Recovery of lost investment profits\n Statutory damages\n Legal costs and fees\nOpportunity to Resolve\nThis letter serves as a final opportunity to resolve this matter without litigation.\nPlease respond in writing within XXXX days.\nSincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation