Cash App has been one of the easiest ways to send and receive money and invest in stocks in cryptocurrency. But if someone gets hold of some of your personal information, your Cash App account can just as easily be hacked. Some have speculated that their account can be hacked by someone who simply knows the Cashtag, the username associated with a Cash App account.
Cash App accounts can be more rewarding for hackers, as they can access both the account’s fiat money and crypto balances. The platform also recently integrated the Bitcoin Lightning Network to make crypto payments faster. As Cash App accounts evolve, they're becoming a bigger target for malicious parties.
Can your account get hacked by someone who knows your Cashtag?
Despite speculations, you can rest assured that your Cash App account can't be hacked with your Cashtag alone. If that were possible, Cash App would be pointless.
The tag is typically what people give to others when they want to send and receive payments on the platform. There are also giveaways by Cash App that sometimes require users to post their Cashtag on social media to be eligible.
How to keep your Cashtag as private as possible
If you’d rather keep your Cashtag private, it's best to only share it with people you’re using the service with and not participate in giveaways. The same goes for the Cashtag barcode—don’t share it with anyone you don't trust. Also, always check that you’re sending money to the right person.
How your Cash App account could get hacked
Whereas Cash App accounts are fairly secure, if someone gets hold of your personal information, your account could be in jeopardy. One way to hack an account is with access to the user’s email and password or phone number and password.
With a user's phone or Cash Card, a hacker could access their account as well. The Cash Card is a physical debit card linked to a Cash App account. It's important that you notify Cash App if you notice the card is missing.
If a hacker can access online merchants that have your card’s details saved on their website, they can make purchases using your Cash App balance as well. For example, if Amazon has your Cash Card details saved and someone hacks your Amazon account, they can make as many purchases as they like with the Cash App balance and have them sent to whatever address they choose.
How to keep your Cash App account safe
First, ensure that the account’s password is strong, and don’t share it with anyone. Also, don’t share the phone number and email associated with your Cash App to anyone you don’t trust. Refrain from clicking on suspicious links claiming that they want to give you free money or other incentives, and monitor the activity on your Cash App account to ensure that nobody is making transactions but you.
One of the best ways to keep your account safe is to add a two-step verification method. This typically requires a code being emailed or sent directly to your phone after you log in with your basic credentials.