One of the major trading platforms in the cryptocurrency market. Robin Hoodprovides many options for users to easily manage their cryptocurrency assets. In addition to the convenience it provides to users, the stock market application also attracted attention and was critically reviewed by stopping trading during the Gamestop movement in the US.

Robinhood, which has emerged with a major scandal in recent months, said in a statement that it is cyber-attack and The personal information of more than 7 million customers announced that he had been captured. According to the news released today, the stock market will pay millions of dollars in fines as a result of a lawsuit filed in recent months.

Robinhood Must Pay $30 Million Fine

According to the NYDFS statement, Robinhood Crypto has been declared understaffed and insufficiently resourced to address this issue in the Banking Secrecy/Anti-Money Laundering Act. NYDFS is also part of the company’s cybersecurity program. to the regulations of the state fully that you don’t fit also announced. The institution stated that these are all very serious mistakes and said that Robinhood’s cryptocurrency division has been closed to the government. $30 million fine announced that he would pay.

Adrienne Harris, director of NYDFS, said:While Robinhood Crypto’s business has grown, it has not devoted enough resources and attention to developing and maintaining a culture of compliance“According to Harris, Robinhood’s cryptocurrency is for the company to evaluate its compliance and recovery efforts.” Working with an independent advisor will also be needed.

This isn’t the first time Robinhood has faced fines or legal action for allegedly misleading consumers. In June last year, the Financial Sector Regulatory Authority was listed on the stock exchange for misleading and failing to protect users. $70 million a coin punishment had cut.