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BBB warns of social media scam involving Cash App, Bitcoin

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LOUISVILLE, Ky. — If you saw a social media video of someone you know saying they made money quickly, and it’s not a scam, would you be interested? If so, the Better Business Bureau (BBB) in Louisville wants you to think twice because there is a new scam on the rise that involves just that. 


What You Need To Know

  • BBB urges caution of messages or videos on social media by someone you know regarding something that sounds too good to be true, like an investment opportunity involving Bitcoin, Cash App, and Venmo
  • Scammers have their victims make a video stating how much money they made, which is posted when the scammers take over the victim’s account 
  • People who see the video of someone they know and trust makes them more vulnerable to fall for the scam 
  • If you are a victim of this scam, report it to police and the BBB

“If it’s too good to be true, it’s not true,” said Joseph Thompson, which is a lesson he learned the hard way…

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