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Robinhood Crypto Wallet May Be Hot, But Data Leak Still Drawing Fire

Almost two million people are waiting to use Robinhood's crypto wallet once it's launched, according to COO Christine Brown.
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Shares of Robinhood  (HOOD) - Get Robinhood Markets, Inc. Class A Report were falling Tuesday as the company battles technical issues, but chief operating office Christine Hall says that the company's crypto wallet has a waitlist of 1.6 million users. 

The company said that it is also giving access to the product to some users Tuesday.

Tuesday morning, the no-commission online brokerage firm  tweeted that it is investigating reports that some customers were experiencing issues transferring money in and out of Robinhood. 

The company later said it has fixed the issue, but coupled with Monday's revelation the stock dipped sharply Tuesday. 

Shares of Robinhood on Tuesday closed 3.4% lower at $36.70. 

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Robinhood revealed that an unauthorized party obtained a list of email addressed for about 5 million users, the full names of another 2 million users and even more info for hundreds more. 

The Menlo Park-based fintech said in a statement that it the Nov. 3 breach “obtained access to a limited amount of personal information for a portion of [Robinhood’s] customers.”

However, no debit card, bank account or social security info is believed to have been exposed.

Last month, Robinhood said it lost $2.06 a share on revenue of $365 million, vs. a loss of 5 cents a share on revenue of $270 million in the same period a year ago. Analysts surveyed by FactSet had been expecting a loss of 67 cents a share for the period.

“Crypto activity declined from record highs in the prior quarter, leading to considerably fewer new funded accounts,” the company said in a statement.