Scammers use all kinds of methods & tactics (stories, threats, extortions, and tools) to steal your personal details. Once that information is obtained, they can use your identity to commit fraud or steal funds from various sources including non-traceable gift cards, wired money, crypto transactions, etc.
These are stories from victims who have had experiences from those who tried to scam or use digital malware threats to accomplish that to help educate you and prevent fraud.
Cash App Scam Warning
“Some random person that I don’t know just sent me $10, but I don’t know who they are or why they’d send it. I’m assuming I can just decline the payment and nothing bad will happen, right? I never accepted so it never got past the point when and where they could get my info, right? I’m scared this is a new scam but it’s also such a low amount.”
– They’ll send you an amount, assume you’ll accept it, then make you send it back because it was a “mistake.” And if you don’t know that you have to “refund” that particular transaction, they’ll contact Cash App directly and they’ll authorize the refund/reversal. This means they essentially got double the amount from your account.
During the pandemic in 2020, an individual made the decision to not handle paper money as a means to avoid human interaction but instead used Cash App to handle monetary transactions. When one such transaction did not go through he did an online search for their customer service but instead contacted a fake phone number attached to Cash App’s name. The “representative” on the other end asked for all his contact information and sent the 6 digit authorization codes which the victim repeated back not knowing this was granting the scammer the recovery codes and access to his account. $3,400 was then stolen in that instance.