Hackers are reportedly gaining access to unsuspecting users’ Cash App accounts and draining their cash balances, according to Vice News. The Cash App is a popular mobile payment service developed by Block (formerly Square), run by former Twitter CEO Jack Dorsey.
Vice News reports that hackers have discovered a way to exploit the popular payment platform Cash App and break into users’ accounts, stealing their money. Vice News spoke to a number of victims, one of which claims that Cash App has not reimbursed their stolen funds.
(Joe Raedle /Getty)
(Reuters)
Liz Shelby, who said their son was a victim of the hacking, told Vice News: “It’s scary! My son saved up some cash for a small vacation with his grandma. We put it in his Cash App before he left. He called me on Aug. 9, and told me that his money was gone.”
Shelby said that after she accessed the account, she discovered that someone else had also logged into it and sent themselves the money. Shelby contacted Cash App support but claims they were unhelpful. “I’m not getting anywhere and I’m sure my son will never 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 the payment services company Block, formerly known as Square, helmed by former Twitter CEO Jack Dorsey.
Another victim, Marvis Herring, claimed that hackers attempted to steal $1,400 via two $700 payments but that his bank blocked the transactions. “The main thing I thought was weird is that I went to change my account password and there really isn’t a password for Cash App accounts,” Herring said.
When users register for Cash App, they provide an email address or phone number, a login code is then sent to the address or number provided. This is used to access the account rather than a typical user-chosen password.
Fraud websites and dark web marketplaces have recently begun selling Cash App accounts, with some listings specifying that the logs contain the email address and password for a linked email account.
“Our Cashapp accounts are of the highest quality and we provide them at the most competitive prices on the market today,” one listing reads. “Full Information Presented Recently Compromised.”
The listing claimed that the hacked Cash App accounts can include between $1,000 and $5,000 in the available balance. A Cash App spokesperson told Vice News:
Preventing fraud is critically important to Cash App. We continue to invest in and bolster fraud-fighting resources by both increasing staffing and adopting new technology. We are constantly improving systems and controls to help prevent, detect, and report bad activity on the platform.
For those who believe they have fallen victim to an identity-theft or account take-over scams, we encourage them to reach out to Cash App Support where we will review the account in question. If deemed fraudulent, we will take the necessary action starting with account closure and disablement of all applicable products.
Read more at Vice News here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship. Follow him on Twitter @LucasNolan
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