If you have a social media account on Facebook, Instagram, TikTok, or Twitter, you need to beware of a popular scam making its rounds. It involves asking you for a small amount of money with false promises that they will be able to turn it into a larger amount. This scam is known as money flipping, where scammers pretend to be someone they aren’t and message many people claiming that they can turn a small amount of money into a large amount of money. There are also hashtags that advertise money giveaways to also beware of when dealing with a cash app scam.
Think you’ve run into a Cash App scam involving false promises of money flipping? Here are some signs that you might be dealing with CashApp Scammers:
Signs That You Are Dealing with a Cash App Scam, or Other Money Flipping Scam
The Money Flipping Scam
Scammers know that people are desperate for money and will do whatever it takes to make more money. Scammers know this and have created the money flipping scam that is hard to resist. You receive a message, claiming that you can earn two, three… even ten times more money than you are earning now within minutes. All you need to do is send the scammer the requested amount of money via CashApp, Venmo, your bank account, or another money transfer app and they will supposedly flip your money within minutes.
There have even been scammers that have asked for your bank account information so they can take the money out themselves… yikes! These scammers often have bad grammar, with missing words and misspellings. Once you send them the money, they take it and block you off of whatever social media platform they were using to message you.
On Twitter, Square’s Cash App offers #CashAppFriday and #SuperCashAppFriday giveaways on its official page, where users can retweet, invite their friends, like the post, or follow Square’s cash app on social media for a chance to win the stated amount of money. While this is a legit getaway, there are scammers that comment on these threads, trying to advertise a getaway of their own.
They usually advertise their giveaway around the same theme as the legit giveaway that they are commenting on, stating that they can win an amount of money if they retweet the tweet. They then message you congratulating you on your win and state that in order to receive the money, they need a small amount of money from you so they can flip it. Once you give them the money, they block you and you don’t see the “giveaway” you supposedly won.
Verify a CashApp Giveaway with a Gift Card Scam
Scammers will ask their victims to purchase a gift card in order to “verify that they are a real person.” The scammer promises to give them more cash than they spent on the gift card, but in reality, they are just going to take the gift card and block you.
Referral App Scams
Scammers message victims on their social media accounts and ask them to sign up for referral cashback apps, such as Waldo or Dosh Cash. This would earn the scammer money each time the victim clicks on each link and signs up for their services. Once the victim signs up for both these apps using the referral links provided to them, the scammer promises to CashApp money in return. However, the scammer blocks them and the victim never hears from them again.
Scammers Catfish Victims as the Official CashApp Account
Scammers will use the same profile picture and similar username as the official CashApp to tell their victims that they won the giveaway! All they need to do is send a small amount of money to “verify they are real” and they will get a large amount of money back in return. Once the victim sends over a small amount of money, they don’t receive any money back in return and get blocked by the scammer.
If you are a winner of the actual CashApp giveaway:
- CashApp won’t ask for additional money from you, they will just automatically send you the money.
- Their official usernames are @CashApp or $cashapp. If they have another username, then it isn’t the real CashApp account.
How to Avoid Any Cash App Scam
- Don’t send anyone any money to win money. The official CashApp giveaways do not require you to send any money, so if someone is asking for money in return then they aren’t the official CashApp account.
- If someone asks you to download a third-party app to win something, don’t do it. Chances are they won’t send you the money that they promised.
- Don’t click any links sent by random people to win something from CashApp. Most of the time, these links contain viruses and malware that can infect your device.
- Only trust in the verified giveaways by the official CashApp or Square accounts. These accounts will have the verified blue checkmark next to their names on social media. Also, the official CashApp usernames are @CashApp or $cashapp. If you get a request from anyone else claiming you’ve won, chances are they are a scammer.
- Report any scam that seems fishy to you. By reporting the scam, you’ll be able to help prevent the scam from happening to others.
Social Catfish is Here to Help You With Your Cash App Scam!
If you are looking to be in our next YouTube video or blog post, you can email us at ShareMyStory@socialcatfish.com! If you have ever gone through a scam or have dealt with a scammer stealing your images, then our audience and team would love to hear your story. This will give our audience the opportunity to learn the signs of talking to a scammer and how to avoid being scammed.
At Social Catfish, we help our users verify that who they are talking to is a legit person. With our reverse search bar, we can look-up any name, email address, phone number, social media username, or image to see who it is you’ve really been talking to.