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Traders exploit 'infinite money cheat code' on e-trading platform that helped user turn US$4,000 into US$1 mil

Bloomberg
Bloomberg11/7/2019 11:32 AM GMT+08  • 2 min read
Traders exploit 'infinite money cheat code' on e-trading platform that helped user turn US$4,000 into US$1 mil
(Nov 7): A glitch in the Robinhood Markets Inc. system is allowing users to trade stocks with excess borrowed funds, giving them access to what amounts to free money.
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(Nov 7): A glitch in the Robinhood Markets Inc. system is allowing users to trade stocks with excess borrowed funds, giving them access to what amounts to free money.

Dubbed the “infinite money cheat code” by users of Reddit Inc.’s WallStreetBets forum, the bug is being exploited, according to users on the forum. One trader bragged about a US$1 million ($1.4 million) position funded by a US$4,000 deposit.

Robinhood is “aware of the isolated situations and communicating directly with customers,” spokesperson Lavinia Chirico said in an email response to questions.

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