Infinite Money Cheat Code

A Reddit user found a glitch in a $7.6 BILLION trading app that gave him unlimited borrowing power. He turned $4,000 into a $1,000,000 stock position. Robinhood had no idea it was happening. – ControlTheNarrative was a regular user on WallStreetBets – A Reddit's stock trading forum known for reckless bets and even more reckless confidence. – Robinhood Gold let users trade on margin, put down $2,000 and get $4,000 of buying power. Standard practice. – Then he noticed something. – When he sold a covered call using borrowed margin money, Robinhood's system counted the proceeds as his own cash instead of borrowed funds. – That meant he could borrow against it again. Then sell again. Then borrow again. Every cycle doubled the number. – $2,000 became $4,000. Then $8,000. Then $16,000. There was no ceiling. – He posted a video on Halloween 2019. WallStreetBets called it the infinite money cheat code and it spread everywhere within hours. – One user turned a $4,000 deposit into a $1,000,000 stock position and posted the screenshot. – Another turned $2,000 into $50,000 of buying power on camera in minutes. – Some used it carefully. Others did not. – One user bought $50,000 in Apple options with money he could never cover. They expired worthless. He owed Robinhood $48,000 he didn't have. – Robinhood told CNBC they were "aware of isolated situations." There was nothing isolated about it. – They patched the glitch within days. No criminal charges were ever filed. A $7.6 BILLION trading app accidentally built a money printer and left it on the internet. Reddit found it on Halloween. It took Robinhood less than a week to notice.