Cash App Scams 2021: Fake Payments Targeting Online Sellers, Security Alert Phishing Emails, and Giveaways

This article is from Trend Micro.

Ever use Cash App? As the world-famous financial platform is now open to everyone over 13 years-old, it’s getting more and more popular. Yet many people have come across suspicious emails and social giveaway campaigns that seem to be from Cash App. Are they genuine? Keep reading to see some of the most common Cash App scams this year — and find out how to protect yourself!

Fake Payment Notification from Online Buyers & Strangers

Impersonating Cash App, scammers falsely claim that your Cash App account have received a payment.

1. Targeting Online Sellers

In this case (source: Reddit), a victim was selling products on Facebook Marketplace, and the buyer (actually a scammer) requested payment via Cash App. Then, they sent a fake payment notification, telling the seller that the balance would only show up on their Cash App account AFTER the package was sent. Guess what? There was NO cash transacted.

If you take a closer look, you will find that the sender’s email address is NOT a legitimate Cash App email:

Remember, according to Cash App: “verified emails from Cash App will always come from a @cash.app, @square.com, or @squareup.com address. If you have an open brokerage account you may receive emails from support@drivewealth.com.”

2. Fake Cash App Receipts from Random Strangers

In other instances, scammers claim that they’ve sent money to your Cash App account by accident and ask you to return the amount. Or they sometimes offer to give you a large amount of money, but to get the money you’ll have to pay a small fee (for processing/advances/taxes etc.). Again, NO money will be sent to you. Don’t be a victim!

Cash App Phishing Emails

Another common Cash App scam is via phishing emails — scammers pose as Cash App and send you emails with phishing links, trying their best to trick you into clicking on them. Their ultimate goal is to steal your personal information.

These phishing links often lead to fake online survey pages that state you can claim a gift by completing an online questionnaire. Or in other instances, the links take you to fake Cash App log-in pages that require you to submit log-in credentials. Scammers can record all the credentials you enter on these pages and use them to hack into your Cash App account and withdraw your money. They could even use your information to commit identity theft. Don’t let them!

1. Fake Payment Notification

Similar to what we’ve mentioned above, scammers send you fake Cash App payment notification, only that in an email phishing attempt, they instruct you to click on embedded buttons (leading to phishing websites) to view details.

2. Fake Cash App Account Security Alert

Scammers also send out fake security alerts. They may claim that there are security issues with your account or that you’ve requested some change in credentials. To settle the issues, you are asked to visit the attached phishing link, taking you to a fake Cash App page where you will have your log-in data exposed.

Fake Cash App Giveaways

Cash App holds giveaway campaigns every now and then, for example, back in 2019 they had several giveaways called #SuperCashAppFriday on Twitter, attracting many users to participate. However, posing as Cash App scammers used the campaign to create fake offers, urging people to retweet their tweet and “direct message” them to win money. Instead, scammers would seek to attain your Cash App credentials or instruct you to transfer money to them.  

Here is an example (note that there is no blue check mark i.e., non-verified):

Recently, Cash App has been holding another giveaway campaign called “Fortune4Days.” Stay alert and don’t fall for a bogus one!

How to Protect Yourself from Cash App Scams

• Double-check the sender’s mobile number/email address.
• Free gifts are always a major red flag. Don’t believe giveaway campaigns held by unverified social media accounts!
• Reach out to Cash App directly for help and support through the app itself or at its official website.
• NEVER click links or attachments from unknown sources. Use Trend Micro Check to detect scams with ease!

1. After you’ve pinned the Trend Micro Check browser extension, it will block dangerous sites for you automatically.

2. Or send links or screenshots of suspicious text messages to Trend Micro Check on WhatsApp for immediate scam detection.

Don’t forget to add an extra layer of protection using Trend Micro Maximum Security! It includes Web Threat Protection, Ransomware Protection, Anti-phishing, and Anti-spam Protection to help you combat scams and cyberattacks!. Click the button below to give it a try:

Did you successfully spot the scams? Remember, always CHECK before giving out personal information. If you found this article helpful or interesting, please do SHARE it to help protect friends and family!