Another Jack Dorsey failure. Cash App hacked

quote:

---

Without warning, hackers drained every dollar of cash, stock, or bitcoin out of accounts linked to Cash App, Square's (SQ)’s popular payments platform, six of its customers told Yahoo Finance.

Cash App functions as a substitute bank for many of its more than 36 million monthly users.

“I had to sell my car seat that I just bought for my baby that I'm going to have in a couple of months, so that I could feed my kids, because I have no money now,” Shania Jensen, 24, a Cash App user from Utah, said about her account shortly after it was drained of nearly $3,000.

Jensen, one of six Cash App customers who recently told Yahoo Finance they were targeted by unauthorized transactions, said when she went to bed on the evening of March 5 her money was in her account, and by 7 a.m. the next day, it was gone. She said she filed a police report, a complaint with the Better Business Bureau (BBB), and reported the matter to Utah's attorney general.

---

quote:

---

Over the past year, the Better Business Bureau (BBB) has "closed" or looked into 2,485 complaints concerning Cash App, and 3,532 concerning Square, where customers have also logged Cash App complaints. Complaints handled concerning Venmo for the same timeframe totaled 928, for Zelle 83. PayPal, which has 377 million active accounts, had 7,215 complaints.

---