Account hacked on etoro

Hello Siraj,

Thank you for your patience while we investigated your case.

Based on previous communication, we understand that you claim that you did not open/close some positions in your account and did not place some withdrawal requests.

We have investigated the actions that took place in your account, and we see that as of 20/06/2024 - 05/08/2024, there were logins into the account from a potential third party, which we have identified by comparing the IP address and device used in those logins to ones used at earlier dates. We see that the account was accessed after the correct username and password were entered into the system. We also see that two-factor authentication (2FA), which is one of the additional security measures that we offer on our platform, was not active on the account at the time of these logins and would have been able to prevent this unauthorized access.

We double-checked with our Security team and can confirm that no information was leaked from our databases and that there was no security breach of the platform in any way. Due to this, we are confident that the third party gained access to your login credentials through other means. This may have happened through phishing links, malware software, unsecured WiFi networks, or other means.

The eToro platform offers many measures to protect our clients, including 2FA and biometric authentication, which we highly recommend using. You can read more about these here.

Since your initial contact with us, we have ensured that your account password has been updated and the 2FA security measure has been activated. We have also ‘killed sessions’ on the account, which means that any device that was logged in has been logged out. In addition, we recommend using a different password for your eToro account than the ones used on other services that you may use online and to run anti-malware checks on your devices. These steps can prevent anything like this from happening again in the future.

Our investigation shows us that:

The following positions were opened and closed:

Position ID Instrument Init Date Time (GMT) End Date Time (GMT) 2744600211 NVDA.EXT 6/20/2024 10:05:56 PM 6/24/2024 8:21:28 PM 2744655250 Oil (Non-Expiry) 6/21/2024 7:53:19 AM 6/24/2024 2:29:47 PM 2744662788 Oil (Non-Expiry) 6/21/2024 8:28:14 AM 6/24/2024 2:29:47 PM 2746001455 NVDA.EXT 6/24/2024 2:30:17 PM 7/25/2024 1:58:55 PM 2746410943 NVDA.EXT 6/24/2024 8:22:12 PM 7/30/2024 3:01:20 PM 2776486811 NVDA.EXT 7/25/2024 2:00:19 PM 8/5/2024 10:30:14 AM 2779305587 NVDA.EXT 7/30/2024 4:31:47 PM 8/5/2024 10:30:19 AM 2783961020 Gold (Non-Expiry) 8/5/2024 10:34:16 AM 8/5/2024 3:32:06 PM 2783969205 Gold (Non-Expiry) 8/5/2024 10:41:40 AM 8/5/2024 3:32:06 PM 2783980133 Gold (Non-Expiry) 8/5/2024 10:58:26 AM 8/5/2024 3:32:06 PM 2783982941 Gold (Non-Expiry) 8/5/2024 11:01:19 AM 8/5/2024 3:32:06 PM 2785408742 VIX (Aug 24 Future) 8/5/2024 3:34:36 PM 8/5/2024 3:45:35 PM 2785446945 ProShares Ultra VIX Short-Term Futures ETF 8/5/2024 3:47:18 PM 8/5/2024 6:44:21 PM 2785807031 Bitcoin 8/5/2024 6:53:36 PM 8/5/2024 7:01:09 PM

The following withdrawal requests were placed:

Status Modification Time (GMT) Request Time (GMT) Net. Cash Amount ($) Orig. Cash Amount ($) Withdraw ID 8/5/2024 7:02:00 PM 8/5/2024 7:01:53 PM 1156.00 1161.00 11767571 8/5/2024 11:02:21 AM 8/5/2024 11:02:13 AM 955.29 960.29 11761617

We contacted our Finance team, and they are attempting to recall the funds sent out of your account. This process may take up to 5 weeks. Unfortunately, based on past experiences, recalls have very low success rates. If this attempt succeeds, the funds will automatically be added to your account.

Since there was no breach on our end and no technical issue that led to the above, we are sorry to say that we cannot offer compensation or refund in this case.

Should you require any further assistance or information, please reply to this message or chat with us live during our business hours.

Kindest regards, Charis N, eToro Technical Team

Second email Dear Mr. Munir,

Thank you for your ongoing patience and cooperation during this process.

We have reviewed your recent correspondence and are now aware of your situation. Therefore, we consider you to be a Vulnerable Client.

Please find further information on vulnerability here: https://www.etoro.com/customer-service/vulnerability-program/.

Whilst we endeavor to provide continued access to the eToro trading platform for as many clients as possible, we believe that, in this particular case, it is not in your best interests for us to continue providing our services to you. Please be assured that we consider each case on a tailored, case-by-case basis and carefully consider the information you provided.

Your declared circumstances may make you more likely to experience detrimental outcomes, which—in the event they materialize—could be greater than if such characteristics/circumstances were not present. Consequently (and in accordance with 26.4(a) of our customer terms and conditions), we are making the prudent decision to close your account.

Regarding the ongoing investigation of your account via case 06019299, it has come to our attention that the funds that were withdrawn from your eToro money cash account were sent to your personal bank account.

On that day, to access your eToro trading account, the Username and Password were used for logging into the eToro platform.

The positions that were open and closed in your trading account, which was strange activity in your experience, were detected as being under the same IP address as your regular device.

Our security team confirmed to me that the suspicious device and your regular device were logging in from the same IP address, 86.128.208.99 and that Two-Factor Authentication was turned off when the logins were made.

The investigation via case 06019299 is still ongoing, and any new details that they will retrieve will be communicated to you through that case.

We understand this may not be the outcome you had hoped for, but I found no grounds for technical compensation in this case at this time.

Whilst we strive to provide an excellent experience for our clients, not all platforms are suitable for all investors.

Please understand that this decision is made with your best interest in mind. Therefore, we kindly ask you not to reopen an account with us, as we are unable to provide our services. Additionally, if you attempt to reopen an account, please be aware that we will not be responsible for any losses incurred, as we have already informed you of this decision.

We would like to assure you that we have done everything we can to find the most satisfactory resolution to your complaint and treated your case with the utmost fairness and professionalism.

Please consider this letter to be our final response.

You have the right to refer your complaint to the Financial Ombudsman Service, free of charge, but you must do so within six months of the date of this email. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances. In the case of cryptocurrency-related complaints, please note that there is no FOS recourse available for products that are not regulated by the FCA, such as physical cryptocurrencies. The full contact details for the Financial Ombudsman Service (FOS) are detailed below-further information can also be found on their website:

Write to: Financial Ombudsman Service, Exchange Tower, Harbour Exchange Square, London E14 9SR Telephone: 0800 023 4567 email: complaint.info@financial-ombudsman.org.uk Website: www.financial-ombudsman.org.uk

Best regards, Tal C, eToro Customer Service Supervisor.