If there’s one thing scammers are good at, it’s the ability to think fast and creatively. That’s why it’s no surprise that they’ve found clever ways to exploit legitimate platforms like Venmo—and most of the time, their cunning strategies work.
The 750 Venmo scam is a tactic scammers use to defraud Venmo users by luring them in with a false reward. If you’re wondering how legitimate the 750 Venmo reward is, this article will clear it up for you.
In this guide, we’ll explain the Venmo 750 scam and provide steps to take if you fall victim to it.
Is the 750 Venmo Real or Fake?
The “750 Venmo scam” refers to an offer of a $750 reward that’s been circulating online. According to Venmo’s official reward info, this offer is fake—there’s no mention of a $750 gift to users on the platform’s website or Offers page.
Officially, Venmo’s program only offers cashback eligibility to users who own a Venmo Mastercard Debit Card. The platform also has a Gift Cards page allowing consumers to send gift cards to other users, but there’s no mention of a special $750 reward on this page, either.
Venmo’s Security & Privacy Help articles warn users that fake prizes or cash reward offers are one of the common scams Venmo fraudsters use to deceive people. To verify whether Venmo is running any reward promotions, check their help center or contact Venmo through its official email and social media accounts:
- On Twitter—@Venmo and @VenmoSupport
- On Instagram and Facebook
- Via email—[email protected]
Now that you know that the 750 Venmo reward is a scam, it’s important to learn how to identify it.
How the Venmo 750 Reward Scam Works
Steve McFarland of the Better Business Bureau of Los Angeles explained how the scam works.
It starts with a realistic but fake Venmo advert on Instagram informing people they won $750 in a Venmo giveaway. The scammers use Venmo’s branding, such as logos, terms, and phrases, to make the ad look as realistic as possible.
When the victim clicks through to access the gift, they’re asked to provide contact information, such as an email address, or pay a fee to receive the prize. They could also request a payment via gift card or Venmo.
Sometimes, the scammer may send a real-looking text message promising a tempting cash reward.
What To Do if You Fall Victim to a Venmo 750 Scam
If you mistakenly fall victim to this Venmo scam, take immediate measures to secure your funds. Follow this process:
- Contact Venmo’s customer support service—Immediately reach out to Venmo and inform them about the situation. Provide as many details and evidence as you can to help in the investigation
- File a police report—Contact your local police fraud department (not 911) and ask to file a report. Your case file may be useful in disputing the case
- Quickly move your funds into a safer platform—If you divulged your sensitive financial information, such as login details, credit card details, bank information, or Social Security number, both your Venmo and bank account are vulnerable to being breached and emptied. Quickly move your savings out of those accounts and into more secure storage like FortKnox to protect your money
