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Scam artists have updated an old hack to scam people out of money with digital wallets like Venmo

People with digital wallets are now susceptible to a new scam that’s been happening for ages in two steps.

First, they hack into your email. Next, they email all contacts asked for someone to wire then $200 because you “lost your wallet” while traveling. But now it’s been updated to fit the times.

The new scam has three steps instead of two.


First, they view all public transactions in your Venmo account. Then they choose someone you’ve sent a lot of money to before. Finally, they create a similar account name with a stolen picture from the account you normally send a lot of money to. This likely works well with parents who have teenage children.

There are a few ways to protect yourself from this happening.

Set all transactions in digital wallets to private. Verify any request before sending money by asking the person if they sent it. And turn on two step authentication.



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