Key Facts
• SBI Securities and Rakuten Securities announced compensation policies for hacked accounts.
• Victims will receive 50% of the financial loss and a flat $70 condolence payment.
• Over the past six months, 7,000 fraudulent transactions occurred, totaling $38 billion.
• Compensation will be calculated based on the difference between sold and purchased stock values.
• Major securities firms have already decided to restore fraudulently traded stocks to original accounts.
• Both companies will contact affected users with detailed compensation plans.
Summary
SBI Securities and Rakuten Securities have introduced a compensation policy to address the growing issue of hacked securities accounts. Victims will be reimbursed for 50% of their financial losses and receive a flat $70 condolence payment. Over the past six months, fraudulent transactions have surged, with 7,000 cases amounting to $38 billion. Compensation will be calculated based on the difference between the value of fraudulently sold and purchased stocks. Major securities firms have also committed to restoring fraudulently traded stocks to their original accounts. Both companies will begin contacting affected users to provide detailed compensation information.
