They forgot drugs

Cashapp transactions are like 47% drugs

A troubling aspect of the reported fraud is how Block’s financial products have allegedly been used in alleged criminal activity. The report showed that Cash App is regularly used to facilitate sex trafficking and even to hire contract killers: the latter has been rapped about in a song called “Cash App,” which the company promoted.

Per this report, Block committed numerous other types of fraud and dishonest activity—predatory fees for its users, maneuvers to avoid compliance, and further misleading metrics offered to investors—and all the while, it was able to grow stocks and profits in keeping with those reported figures. During the pandemic, Hindenburg alleges that Dorsey and McKelvey “collectively sold over $1 billion of stock” based on the company’s reported successes.