In the course of my research, I’ve also encountered some Cash App scammers not using any of the Cash App hashtags whatsoever. These typically involve the same promise of a giveaway to the first X number of users who retweet and include their “cashapp name” ($cashtag).
Check The Replies
In the tweets from Cash App scammers, you’ll often find a sea of $cashtags from users in the replies, similar to what you’d find in the replies to the real Twitter account. Interspersed through these replies, you’ll see the Cash App scammer replying with “Dm me” messages to potential victims.
Interestingly enough, some of the Cash App scammers use their other scam accounts to foster fake engagement by liking, retweeting or replying in an effort to create a sense of legitimacy around their scams.
Case in point: A Cash App scam account named “Eva” tweeted out a http://installmentloansgroup.com/installment-loans-ny giveaway to the “first 900” people. In the replies to Eva, three accounts responded claiming the offer is legitimate, even including screenshots from Cash App to support their claims. A few red flags are presented here.
First, the screenshots include dollar values less than or greater than the offered amount of $900. Second, the screenshots are from the perspective of the scammer, which is unusual. This is because it says a dollar amount “was instantly deposited to your bank account,” which means money was transferred from Cash App to a bank account, not to a Cash App user. It is unusual because most of the Cash App scammers I’ve observed tend to post screenshots with examples of money being sent to unidentified users.
Finally, and most importantly, look closely at the dollar amount being offered and the number of users eligible for the giveaway. In this case, it is $900 for 900 users, which equals $810,000. When Cash App itself does giveaways, it normally offers a more modest sum of money – as low as $5 per person in some cases. Even in promotions where the giveaway amounts are higher – such as a #SuperCashAppFriday – the offer would never exceed $10,000-$75,000 in total. The math just doesn’t add up, and in most Cash App scam giveaways, it never will.
There are even some instances where different Cash App scammers will encroach on the territory of other Cash App scammers, as seen in the screenshot above.
In addition to seeing such screenshots of Cash App transactions, I’ve also seen some Cash App scammers favorite and retweet videos and images of people holding large sums of cash, claiming they received them from the Cash App scammer. While not confirmed, I suspect these accounts are also owned and operated by the scammers.
Cash Flipping: A Timeless Con
Behind these so-called Cash App scam giveaways, there’s a timeless con at work. It is illustrated in an Abbott and Costello skit, called “Two Tens for a Five,” which begins with an unsuspecting Costello being asked by Abbott if he can exchange two $10 bills for his $5 bill, resulting in a $15 profit for Abbott and a $15 loss for Costello.
In the case of Cash App scams, they follow the blueprint of what’s called money (or cash) flipping. The victims are asked by the scammers to put up a certain amount of money, which can range from as little as $10 to as much as $1,000. The scammers claim they can modify (or “flip”) the transaction after it’s been posted because they have some “software” or because they are a customer service representative, allowing them to change the value in whatever payment service they use (in this case, Cash App). All they ask is that the victim provides them with a small cut for their “services.”