Scam comes in different forms and flavors. The sad truth is that, with the progress of time and technology the nature of scams has also advanced. Banking and online shopping scams are best examples of some of the most popular digital scams. And to make things worse, today's payment apps like Cash App, PayPal, Venmo, and Apple Pay are also not free from the clutches of dirty scams. Customer service scam, refund scam, and free money scam are quite popular nowadays. But, what is the Cash App pyramid scheme? Is it legit or not? In this helping post, we are going to find answers to such questions.
As you continue to read this post, you will also come to know about the Cash App money circle scheme. Before I walk you through the details, let me clear one important thing. If you have already fallen victim to any scam on Cash App then contact us immediately before it is too late. We can help you to get back your lost money. Else, keep on reading this helping post and educate yourself for better user-experience on Cash App.
Cash App pyramid scheme- how does it work?
Have you heard about Cash App pyramid scheme $800? If yes then be careful. Pyramid scheme on Cash App is nothing but just unique type of scam. However, pyramid scheme is not a new concept of fraud in the world of scams. It has been existing even before the inception of Square Cash App. The modus-operandi, nature, and working principle of the pyramid scheme might be different but the aim always remains the same and that is to fool people. How does Cash App pyramid scheme work? It might be your next question. Here below is the answer.
So, as a first step, the Cash App pyramid scheme starts off with making false rosy promises. People are told that they would get $1000 in return if they pay $100 and add two more people. The cycle of adding new people and creating a loop bigger always keeps going. In this scheme of adding people with an entry fee someone loses money while some make money for free. People who make money in beginning start to like it and add more and more people to the circle. But, sooner or later everyone loses money and then starts the end of the circle. If there is someone who always remains in benefit then that is the scammer. The next section will tell you more about it.
Is the Cash App money circle a scam?
Most might have heard about the blessing bloom. Cash App money circle is not different from blessing bloom. Like the pyramid scheme, in the Cash App circle game rules are almost the same. First pay some amount that might range up to $100 to join the group. The new joiners are kept in most outer rings of the circle. Then once you add more people you will jump to the green belt or move closer to the center. Actually, getting a centre position is the aim of all members. Why? Because the person who reaches the center of the circle gets paid from all members. And then the circle grows bigger then another circle is created. Thus, the scammer always keeps getting paid. To make it easy to understand, scammers use the color codes like blue, green, pink, and purple. Everyone fights to get the purple color or you can say get into the centre to receive money. And to do so, they relentlessly, keep adding more and more people. The fact is, in this rat race, no one can stay longer in the center position.
I got scammed on a Cash App. What do I do?
However, Cash App has clearly stated that once the money is gone from the account then Cash App can't do anything. What adds the salt to the injury is the fact that Cash App is not FDIC insured. It means, Cash App is not legally bound to return the money of victims. So, does it mean, you can't get back your money once scammed? Well, it depends. If you contact the Cash App customer service within 24 hours then the chances are high that you can get a refund from Cash App. In recent times, so many people have gotten their money back from the Cash App pyramid and money circle scam. You also can get yours.
