'I've just been ignoring their attempts'
"The number they provide if I want to dispute it doesn't seem to connect me with a live person." (Photo subject is a model.)
Dear Quentin,
I keep getting notices from Robinhood saying that someone is trying to change my email address. I don't have any money in the account, and the number they provide if I want to dispute it doesn't seem to connect me with a live person, at least as far as I can tell. What do they have to gain? They are relentless, but I've just been ignoring their attempts.
Running on Empty
Related: 'It feels slimy': My friend offered to be my adviser, but didn't tell me he's paid to push financial products. Can I trust him?
You can email The Moneyist with any financial and ethical questions at qfottrell@marketwatch.com. The Moneyist regrets he cannot reply to questions individually.
Thieves can open credit-card accounts or apply for loans in your name, or simply sell your data on the dark web.
Dear Empty,
Phishing scams are like an octopus: They have many sticky tentacles.
Delete and block. Once you respond by calling a number purportedly provided by Robinhood, you have proven that you are a real live human being, and that makes you and your phone number a target. Always contact the company by using the number or contact form provided on the official website.
Brokerage accounts require sensitive data, including a Social Security number, date of birth and home address. Thieves can open credit-card accounts or apply for loans in your name, or simply sell your data on the dark web.
Hacked brokerage accounts can also be used for money laundering. Criminals may exploit legitimate accounts to conceal the origins of illicit funds, facilitate cryptocurrency scams or move stolen money through seemingly legitimate transactions.
The scammer obviously doesn't know your account is empty and, while that may come as a disappointment to them at first, they know that access to a personal account like a trading platform has other uses.
For starters, they can attempt to use instant deposits to make trades. Some trading accounts provide temporary buying power through instant deposits so the account holder can make trades while the bank transfer is still being processed.
Because Automated Clearing House bank transfers can take several days to complete, there is a small but valuable window of time during which an account appears to have funds available for trading even if the money has not yet cleared.
A hacker could exploit that window by using the temporary buying power to trade securities or purchase cryptocurrency before the transfer fails. A reader came across a similar scam when a would-be buyer of his classic car asked him to cash a fake check.
Related: 'This scam stuff is going to get worse': A man approached me in my car - he had a crazy story
Robinhood warns about scams
Robinhood (HOOD) warns customers about these scams. "These scams are incredibly popular and are often found via search engine results or on social media - sometimes as a promotion," the company says.
"You should only contact Robinhood support through the app," it adds. "When you connect to Robinhood support through chat or email, we'll NEVER ask you for any account login details or two-factor authentication codes."
It continues: "Don't search for or use Robinhood phone numbers through an internet browser because they potentially are scams. Many phone support scams direct you to call a fake Robinhood customer service number."
Robinhood does not have a direct number connecting customers to a live agent. Scammers will ask you to provide or verify personal information, account login details or two-factor authentication codes, transfer money to them or download malicious software, it says.
Crypto accounts, bank accounts and even eBay accounts are also vulnerable to phishing scams where thieves send an email with a link and implore you to click. Rule No. 1: Don't click on the link. That's Rule Nos. 2 and 3, too.
By infecting your computer with malware, scammers can gain access to your hard drive and cloud system, providing them with an opportunity to impersonate you using your professional email account, and possibly even accessing your Social Security number.
The phishing may start with an email designed to resemble a legitimate company, and it might contain a fake invoice or merely ask the recipient to review a document that looks like an HTML file but is actually a downloadable PDF.
Even if you have just $1 in your account, what scammers ultimately want is access.
Related: 'I've yelled, screamed and cried': My mother gave $400K to online scammers. She still gives them Apple gift cards. What can I do?
The Moneyist regrets he cannot respond to letters individually. Check out The Moneyist's private Facebook group, where members help answer life's thorniest money issues. Post your questions, or weigh in on the latest Moneyist columns.
More columns from Quentin Fottrell:
'I feel like I'm living a lie': My husband and I pretend we're strapped for cash in front of friends. Is that bad?
'I'm already feeling anxious': My ex-husband offered to give me a $30,000 lump sum for child support. Is there a catch?
I was invited to join a VIP investment club. It promoted bitcoin and other crypto - that's when the trouble started.
I fell victim to an online dating scam. I'm $27,000 in debt. 'Without commenting on my obvious stupidity, how do I recover from this?'
By emailing your questions to The Moneyist or posting your dilemmas on The Moneyist Facebook group, you agree to have them published anonymously on MarketWatch.
By submitting your story to Dow Jones & Co., the publisher of MarketWatch, you understand and agree that we may use your story, or versions of it, in all media and platforms, including via third parties.
-Quentin Fottrell
This content was created by MarketWatch, which is operated by Dow Jones & Co. MarketWatch is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
July 14, 2026 09:15 ET (13:15 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.
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