40%-75% accounts of Jack Dorsey's Cash App fake, involved in fraud, claims Hindenburg
Hindenburg Research, in its new report, accused Jack Dorsey's Block's Cash App of "wildly" overstating its genuine user counts and understating its customer acquisition costs. Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual, Hindenburg Research said in the report.