What Happened — In Plain Language

You deserve to know exactly what went wrong. Here is a straightforward explanation, without technical language or corporate excuses.

We Owe You an Explanation

You put your trust in Webull. You trusted us to keep your money safe. You trusted us to protect your information. We failed you on both counts, and we are sorry.

Because of our failures, three things happened:

• Your money was frozen. You could not access funds that belonged to you.
• Your personal information was stolen. Names, emails, and phone numbers were taken from our systems.
• Criminals targeted you. Using stolen information, scammers sent emails and messages that looked like they came from Webull. Some of you lost additional money because of these scams.

If you are cautious or skeptical about this process, that is completely understandable. You have every right to be careful. We encourage you to verify everything independently before taking any action.

What Exactly Happened

Our Systems Were Breached

A vulnerability in our security allowed unauthorized people to access client contact information. This included names, email addresses, and phone numbers. This should never have happened, and we take full responsibility for this failure.

Your Information Was Sold

The stolen information was sold on underground websites. This put you at risk of targeted scams — and that is exactly what happened next.

Your Funds Were Frozen

To protect your money from further harm, we froze all accounts. While this was necessary to prevent worse losses, we know it caused real hardship. Many of you depended on access to those funds. We understand that.

Scammers Used Your Information Against You

Criminals used the stolen data to send emails and messages that looked exactly like Webull communications. They knew your name. They knew your email. They used that to trick some of you into sending money to the wrong place. That is a terrible thing, and it happened because we did not protect your information well enough.

What We Are Doing to Make This Right

We are committed to the following:

• Every frozen account will be released. Your money is still there. It will be returned to you.
• Every deposit you made will be refunded. Any money you sent as part of verification will be returned to your wallet.
• We have moved to Signal. All communication now happens through a secure app called Signal. This means no one can impersonate us by email or text.
• A real person will help you. No automated systems. No robots. A named individual will guide you through every step.

If You Lost Money to Scammers

We know that some of you lost additional money because of phishing scams that used your stolen information. That is unacceptable. We are establishing a separate process to address those losses. You do not need to do anything right now. We will reach out through Signal when that process is ready.

If You Are Hesitating

We understand. You have been let down before, and it is hard to trust again. Here is what we want you to know:

• Your money is safe. It is not going anywhere.
• There is no hard deadline, but cases are processed in order. The earlier you start, the earlier your funds are released.
• Every step of this process is explained before you are asked to do anything.
• You can verify everything on this portal independently.

When you are ready — and only when you are ready — we will be here to help. Message @WebullRelease on Signal to start the process.

What We Have Changed

We have made significant changes to protect you going forward:

• Signal-only communication. All sensitive communication now happens through Signal, which cannot be faked by email or text.
• Human-guided process. Every release is handled by a real person who will explain everything before asking you to do anything.
• We deleted what we did not need. We have removed all non-essential personal data from our systems.
• Fraud monitoring. We have engaged Infinity External Risk Management (a Check Point company) to actively monitor for and take down scam websites and social profiles that try to impersonate Webull.
• Independent oversight. An outside auditor verifies that every account is accounted for and every release is conducted fairly.

A Promise Going Forward

We cannot undo what has happened. But we can commit to earning back your trust through our actions — not our words. This portal, the Signal channel, and the entire release process were designed with one goal: to give you back control of your money, safely and with full transparency.

Thank you for holding us accountable. We are committed to being worthy of that accountability.