EToro - Automatically closed all my positions

Patmonta

On Thursday 14/04/22, I noticed that all my crypto positions had closed. I immediately changed my password and logged back into the app, now all my stock positions were pending close. 

I tried to cancel the close request by clicking cancel provided by the software for situations like this, but to no avail.  

Every single one of my positions had automatically closed, even though I was in a profit with no margin warnings.

I would not have known this was happening had I not just randomly logged into the app to check on my profits. After contacting support I logged back into to find that my money was being processed for withdrawal to an account that is not mine without any of my consent. 

I still don’t know why or what happened and can’t find anything online similar to this. I have no access to my money even though I have complete access to my account. 

What do I do now or should I not be worried. I doubt after whatever error it was that they might not be able to repoint my entire portfolio to positions held over a long period of my time in the past.

masonic

What did support tell you? What you have described suggests your account has been taken over and your money is about to be stolen. Do you really need to ask if you should be worried?

tebbins

Unfortunately Etoro has a history of complaints, some similar to this. Has the money actually left your Etoro account yet?
I can suggest doing a subject access request and contacting support for all the data on the logins, sell orders and withdrawal requests that led to this happening. If you believe your account may have been hacked, contact Action Fraud for a Crime Reference Number.
As always, DYOR. Do not trust or use an app with so many poor reviews as Etoro - stupid games, stupid prizes and all that (is what less sympathetic posters would say).

dunstonh

I would not have known this was happening had I not just randomly logged into the app to check on my profits. After contacting support I logged back into to find that my money was being processed for withdrawal to an account that is not mine without any of my consent. 

If it hasn't been completed and still being processed then the withdrawal can be stopped.  You must be quick on this.

What do I do now or should I not be worried. I doubt after whatever error it was that they might not be able to repoint my entire portfolio to positions held over a long period of my time in the past.

Yes you should be worried and you should be discussing this with them ASAP.

Patmonta

masonic said:

What did support tell you? What you have described suggests your account has been taken over and your money is about to be stolen. Do you really need to ask if you should be worried?

I have been asked by support to be patient while they investigate. I suspected it was a take over but I have double verification and get notified by txt every time my account was logged into, even after the password reset. All logical steps were taken as soon as I suspected. I have been assured by eToro the money will not leave my account as it has been limited by support. 

Scottex99

Were they just spot positions? Not sure if they still offer leverage but they closed some of my 2x longs a while back because they weren’t offering lev to UK clients anymore. Or something like that.

But with the random withdrawal it does look like a hack, it’s definitely not an old bank account of yours?