After report on Adani group, Hindenburg Research accuses payments firm of frau

NEW DELHI: Hindenburg Research, which caused significant harm to Gautam Adani's status as the second richest person in the world, has come up with a new report. The report is on financial irregularities in the digital payment company Block. Block is a company formerly known as Square. The bombshell report claimed that Block, a company led by Twitter founder Jack Dorsey, has allowed fraudulent accounts to proliferate on cash applications, generating illegitimate revenue and exaggerating user metrics.

Within four days of the publication of the Hindenburg Report, the Adani Group suffered a huge fall in the stock market and incurred losses of lakhs of crores. The opposition is continuing to protest in Parliament demanding an inquiry against the Adani Group based on the report.

NEW FROM US:

Block—How Inflated User Metrics and "Frictionless" Fraud Facilitation Enabled Insiders To Cash Out Over $1 Billionhttps://t.co/pScGE5QMnX $SQ

(1/n)

— Hindenburg Research (@HindenburgRes) March 23, 2023