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PayPal Money Generator

Beware of the PayPal Money Adder Scam

Due to the advent of the internet and other tech services, there is a variety of ways to make money online. However, this opportunity made room for cybercrooks to come into the game, leading to a proliferation of scams. The latest fraud example going around this week is the PayPal Money Generator, aka the PayPal Money Adder.

In this article, we'll be examining the meaning of this scam and how it works. Let's dive in. 

 

How Does the PayPal Money Generator Scam Work?

The real PayPal has nothing to do with this scam, so it's just criminals using the name of the brand. That being said, the PayPal Money Adder or the PayPal Money Generator is an app that promises to add real money to your PayPal account. Usually, users have to pay for this 'service'. Sometimes they may even get it for free and have it downloaded on their device.

The scammers advertise the app to you under the guise of providing you with an amount of money while, in reality, you get nothing at all. What's worse, criminals also created a bunch of fake good-looking websites acting as 'third-parties' endorsing the effectiveness of the PayPal Money Generator. So in case you lookup online for the app, you may see praises from some websites—total bull.

Let's take a look at a few variations of this scam. They include:

paypal money generator

 

1. Stealing Directly From Your PayPal Account

The main reason why scammers engage in this scam is to try and steal vital information from users. Under the simple reason for registering you for the app, crooks ask for your email. Days or weeks later, you receive an email that asks you to solve a problem with your PayPal account. Along these lines, attempts will be made to secure your login information. It may be in the form of a login page, or they may ask directly.

The login PayPal page is fake, and you won't be logging into your personal account. You will only be providing scammers with all the information needed to steal money from your account, which could also lead to identity theft.

Avoid any links to your bank account or PayPal account sent through your email. Most of them are for malicious intent. To access your real PayPal account, navigate to the web address of the platform. They are the only ones authorized to make any changes to your account. They also must keep all of your information safe, or you will risk losing lots of money.

 

2. Selling Your Email Address

The easiest way for the PayPal Money Adder scammers to benefit from this scheme is that they get users to pay for the app. Then, these people will then run away with victims' hard-earned money before they can ask to get their money back.

We mentioned about the collection on the email addresses above. Gathering email addresses may seem like a harmless act, but it's very beneficial for the crooks. The email addresses worth quite a lot. When done with collating all of the required addresses, they are then sold in bulk for a lot of money to companies who will then fill up your email with a variety of spam messages. 

 

3. Fake Upgrades, New Versions and Promotions

This scam is pretty easy to fall victim to because you may think that you're on the real PayPal app without knowing that scammers are looking to hurt you. Certain scammers go the extra mile to create fake PayPal apps.

Don't be deceived because these apps look a lot like the original ones, featuring even the Paypal logo on it. They also look professional and have lots of positive reviews about it, done through not-to-be-trusted websites that claim to be experts in the financial world, so beware. Without knowing, victims download this app and provide scammers with all their vital info.

The real PayPal is a trustworthy payment platform and is safe to use, but these counterfeit apps are designed to defraud you of your personal information and cause you financial losses.

Occasionally, this app is presented to you with an invitation for an upgrade, a new version, or a promotional offer. It is usually advertised as the best deal available, but it isn't. It's a scheme that could end up costing you more than you ever imagined. 

 

It Appears as the Official Partner of PayPal

Many people fall victim to this scam because the PayPal Money Generator app looks like it's an official partner of the real PayPal app.

The best advice for you is always to check the official website to confirm if the promotion you're being offered is genuine, which will not happen, as PayPal doesn't typically have any. Confirm the source of the web address before inputting personal information. If it's not where you're used to logging in, it may be a scam. Also, check online for different warnings. Make sure to keep yourself armed with information because scammers are known to change their tactics to catch even more unsuspecting people.

Watch the video below to see the PayPal Money Generator Scam explained:

 

 

PayPal Money Generator Scam: How To Report

Warn your family and friends about the PayPal Money Adder Scam by sharing it on social media using the buttons provided. You can also officially report the scammers to the Federal Trade Commission using the link below:

Report To The FTC Here

 

How To Prevent Identity Theft and More

If you want to be the first to find out the most notorious scams every week, feel free to subscribe to the Scam Detector newsletter here. You'll receive periodic emails - we promise not to spam. Meanwhile, educate yourself with some other fraud-related articles right under this paragraph, so that you can protect yourself in many other aspects and niches. Last but not least, use the Comments section below to expose other scammers.

Here are some must-reads for the end:

Credit Card Fraud

Final Expense Life Insurance Scam

How to Prevent Identity Theft

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Post Office: Change of Address Scam

Bad Credit: Auto Loans Fraud




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