According to Vice News, hackers are accessing the Cash App accounts of unsuspecting users and consuming their cash balances. Cash App is a popular mobile payment service developed by Block (formerly Square), run by former Twitter CEO Jack Dorsey.
Vice News reported that hackers discovered a way to use the popular Cash App payment platform and steal their money by hacking into user accounts. Vice News spoke to several victims, one of whom said Cash App never returned their stolen funds.
(Joe Radle/Getty)
(Reuters)
Liz Shelby, who said her son was the victim of a robbery, told Vice News: “Horrible! My son saved up for a little vacation with his grandmother. We put it in the Cash app before we left. He called me on August 9 and said his money was gone.”
Shelby said that after gaining access to the account, she discovered that someone else had logged into the account and sent her money. Shelby contacted Cash App support but were told they were useless. “I won’t buy anything and I’m sure my son won’t get his money back,” she added.
Cash App is one of the most popular online payment services with over 50 million downloads from the Google Play Store. The app is owned by payments company Block, formerly known as Square, which is run by former Twitter CEO Jack Dorsey.
Another victim, Marvis Herring, said the hackers tried to steal $1,400 in two $700 payments, but his bank blocked the transactions. “The main thing I found strange was that I decided to change my account password, and there really isn’t a password for Cash App accounts,” Herring said.
When users sign up for Cash App, they provide an email address or phone number, after which a login code is sent to that address or number. This is used to access the account, not the default password chosen by the user.
Fake websites and dark web marketplaces have recently started selling Cash App accounts, with some listings stating that the logs contain the email address and password for the associated email account.
“Our Cashapp accounts are of the highest quality and we offer them at the best prices on the market today,” says an ad. “All of the information recently provided has been compromised.”
The listing claimed that hacked Cash App accounts could have between $1,000 and $5,000 in current balance. A Cash App spokesperson told Vice News:
Fraud prevention is important to Cash App. We continue to invest and strengthen our anti-fraud resources by increasing our workforce and introducing new technologies. We are constantly improving systems and controls to prevent, detect and report unwanted activity on the platform.
For those who think they are victims of identity theft or account hijacking scams, we recommend contacting Cash App Support, where we will investigate the relevant account. If found to be fraudulent, we will take appropriate action, starting with closing the account and deactivating all related products.
Read more about Vice News here.
Source: Breitbart
