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Short seller accuses Block of facilitating fraud

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Short seller Hindenburg Research has accused Jack Dorsey’s Block of facilitating fraud.

Hindenburg alleges Block allows criminal activity to operate with lax controls and "highly" inflates the transacting user base for Cash App, which it owns.

Officials with Block, formerly known as Square, called the allegations "factually inaccurate and misleading."

Read more from CNBC.

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