Cash App is a great way to send and receive money and is constantly being hacked. Also many malicious people use it as a source for scams.
Scammers try to steal your money by pretending to be Cash App or by promising you free money if you send them money, dubious methods like these exist. That’s why we’ve compiled five common Cash App scams that you should definitely know about.
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Five common Cash App scams and how to avoid them
There are several types of scams on the Cash App:
- Phishing scam
- The Cash App customer service scam
- Cash return scam
- Payment Request Scam
- Fake Security Alerts Scam
Phishing Scam
In this fraudulent scheme, Cash App scammers will attempt to use the Cash App logo and a similar looking email address to try and trick you into “verifying” your Cash App account details and password. They may also try to persuade you to click on a link that will send you to a phishing site that will steal your information.
Cash App Customer Service Scam
Support scams are among the most common tactics used by fraudsters to scam Cash App users. In this fraudulent scheme, fraudsters pretend to be Cash App customer service representatives and contact you about your account balance or security issues.
They will often contact you on social networks after you post a problem with Cash App. In other cases, they may call, text, email you or create fake websites displaying phone numbers to call for support.
Cash “flip” scams
Scammers who offer to “flip” your money with the promise of guaranteed better returns are called cash flippers. In this situation, scammers use social media sites (such as Facebook or Instagram) to contact cash app users and advertise get rich quick scams. They’ll often start small, promising to turn $200 into $1,000, then offer a “money back guarantee” if you’re not satisfied. Similarly, they may sometimes return a small amount to gain your trust before attempting to scam you out of larger sums.
Cash App Payment Request Scam
Scammers will sometimes persuade you to give them money in order to “claim” a payment that you “deserve”. These payment attempts are invariably fraudulent. Never send money to another person in the hope of receiving a larger amount in return. As with Cash Flipping, if someone promises you free money in exchange for sending money, it is most likely a fraud.
False Security Alert Scam
Scammers take advantage of your fear to get your login information and passwords. In this scam, the scammers will email you a fake security warning that your Cash App account has been compromised due to a data breach. They will include a link to a web page where you can change your Cash App login information. However, they will use any account information you provide to them to drain your account.
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