Scams Exploit COVID-19 Giveaways Via Venmo, PayPal and Cash App

The economic impact of COVID-19, which is causing record unemployment, creates a golden opportunity for scammers looking to target vulnerable people desperate for cash to help pay their bills.

As Cash App steps up the frequency of its giveaways, and celebrities and other notable figures launch giveaways of their own, scammers are brushing off old tricks in a rush to exploit them.

Over the last few months, we’ve outlined how the novel coronavirus and COVID-19, the disease it causes, has been leveraged by cybercriminals, scammers and opportunists seeking to take advantage of global interest, fears and uncertainty surrounding the virus. In our summary about scammers, we highlighted how they have shifted gears to capitalize on the economic uncertainty posed by COVID-19.

Now, we’re seeing scammers doubling down on the technique known as advance fee scam or “flipping,” along with more blatant use of impersonation tactics of celebrities and notable figures. Scammers have also expanded their preferred platforms to include Venmo and PayPal, alongside the ever-present Cash App.

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