Fraudulent cases of money stealing from users’s Cash App accounts scares the internet

Frauds related to Money always tend to seem dangerous. Another recent fraud taking place is in the Cash App. According to the victims reporting about the incident, there are unsuspicious activities found in their Cash App accounts. There are hackers breaking into random victims’ Cash App accounts to steal hundreds of dollars.

With over 50 million downloads from the Google Play Store, Cash App is one of the most popular payment service apps. Cash App is also known for large-scale cash giveaways on social media. The app is owned by Block, formerly known as Square, a payment services company. The company is led by Jack Dorsey. Numerous users exist with a Cash App account, and all of them are at risk currently.

One of the victims of this fraud, Marvis Herring, said, “Hackers attempted to steal $1,400, in two different installments i.e,  $700 each time”. However, the bank immediately blocked the suspicious transactions there and then, which saved him from losing the money. Another victim’s mother named, Liz Shelby, came up, telling about the incident her son witnessed. “My son saved up some money for a short vacation to spend with his grandma. We put it in his Cash App before he left. He called me on 9th August, and informed me that all of his money was gone”, Shelby said while reporting her fraudulent scenario.

There is no solution even after contacting Cash App support. This has thereby become very scary for every single user to access the account. On logging in to the account, it was noticed that there was someone else already logged in to the same account.

Cash App encourages customers to enable two-factor authentication on their linked email address on its website. The app also includes a feature called Security Lock, which necessitates the user to input a PIN for each transfer.

“Preventing fraud is extremely crucial for Cash App. We reinvest in and strengthen our fraud-fighting resources by increasing staff and implementing new technology”, said one of the spokespersons of Cash App.

Advertisement

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More