Out with friends? Maybe don't tell them to Venmo you their portion of the bill.
A new report from Slate investigates the popular mobile payment app's troubling security problems, and uncovers some horror stories that will make you think twice about ditching cash and relying on Venmo. Slate details the ordeal of Chris Grey, a Venmo user who was suddenly notified by his bank that he had a pending transaction for $2,850 — which was made by a hacker who easily changed Grey's password and disabled his notification settings, all without Venmo alerting Grey to any possible fraud.
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