China's Snowball Finance Investigates Data Leak Affecting 120,000 Users
Liao Shumin
DATE:  Aug 22 2019
/ SOURCE:  yicai
China's Snowball Finance Investigates Data Leak Affecting 120,000 Users China's Snowball Finance Investigates Data Leak Affecting 120,000 Users

(Yicai Global) Aug. 21 -- China's leading investor exchange and trading community Snowball Network is investigating the leak of 120,000 of its users' data.

The company does not disclose information to third parties and will continue to work to improve user security, tech news outlet 36Kr cited the Beijing-based firm as saying.

A user on China's Twitter-like Wiebo upload what appears to be a screenshot of personal information belonging to several Snowball account holders today, saying they were prepared to sell the full set of data for just USD75. The information for sale includes names, identification card numbers, phone numbers, email addresses, passwords and a portfolio snapshot of Snowball account holders.

Founded in 2010, Snowball offers real-time market quotes for the Shanghai, Shenzhen, Hong Kong and the United States bourses, as well as real-time trading. It was China's first platform offering American stocks and has a large number of professional investors among its users. Account holders can manage their trading accounts held with Snowball partner brokers via its app.

The firm has raised funds five times since its formation, with the most recent bringing in about USD120 million in July 2018 and led by Ant Financial Services Group, the financial technology affiliate of Alibaba Group Holding.

Editor: James Boynton

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Keywords:   Xueqiu,Snowball Finance,Data Leak