A stock-trading Reddit forum has minted a group of hall-of-famers who best exploited Robinhood's 'infinite leverage' glitch. Here's how much money each has amassed through the hack.
One member of the WallStreetBets sub-reddit discovered the glitch in late October. Several other users subsequently copied the trade,Here are the five hall-of-fame members, from the user who first traded with the bug to one member who turned a $3,000 deposit into a $1.7 million position.
, also known as "leverage." The app incorrectly added the value of the options sold to traders' cash pile, giving them more buying power with which to repeat the trade. One WallStreetBets user described the trick as an "infinite money cheat code," though it's uncertain what action, if any, will be taken against the traders for their high-risk activity.
One forum member, curiously named SocioButt, posted a list highlighting members who gambled the most through the exploit. Here are the five hall-of-fame members, from the user who first found the glitch to one who turned a $3,000 deposit into a $1.7 million position.
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