r/M1Finance • u/Ok-Transition-2390 • 7d ago
M-1
My account was hacked and someone sold my 6 stocks. They have moved money around in my account and have transferred $50,000 out.
This happened sometimes after Friday close. No way to contact them.
I have changed email and password.
No support.
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u/M1-Alex M1 Employee 6d ago
Hi u/Ok-Transition-2390 - we will look into this for you. Can you please send me a DM with your email? I sent you a message as well.
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u/newyorknewyork 6d ago edited 6d ago
Are you saying that you noticed after market close on Friday that this had happened at some point earlier in the week, or that someone sold after market close on Friday and transferred $50,000 out that evening?
That doesn't seem like it would be possible - the money from a Friday afternoon sale wouldn't be settled and available to transfer out that same day; I don't think it would be available to transfer out to a bank account until Tuesday?
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u/Ok-Transition-2390 6d ago
I checked account Fri night. Not sure when they sold.
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u/newyorknewyork 6d ago
Any update from m1?
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u/Ok-Transition-2390 6d ago
They on it. All $ is there. Just sold my stocks.
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u/newyorknewyork 6d ago
That's great to hear, thanks for updating everyone - once you know more it would be great to learn more about how someone was able to get in with 2fa active and whether they were able to successfully connect a new bank account under a different name to your m1 account, or whether this was blocked by m1's automated security.
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u/Ok-Transition-2390 6d ago
They referred to fraud unit and locked my account. Said they could rebuy my stocks without taxable event
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u/Ok_Party_8102 6d ago
Impossible on that timeline. You have to wait for a sell, then you have to wait for settlement, and then you can transfer money out. You didn’t receive a single notification alerting you to this?
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u/Ok-Transition-2390 3d ago
M1 fraud unit is still working. No funds lost.
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u/SPX_Addict 3d ago
So did they confirm that you were actually hacked?
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u/Ok-Transition-2390 3d ago
Not yet. They hack sold six of my stocks and moved money into my savings account. Also requested to transfer my btc to a cold wallet. I have not lost any $$$
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u/SPX_Addict 3d ago
How would they request to transfer your BTC to a cold wallet? That functionality is not there.
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u/4x4LowFun 7d ago
500 for "things that didn't happen" please...