After Adani Group, US short seller Hindenburg Research has now released a report on Thursday (23 March) against US company ‘Block Inc’. Hindenburg has alleged in this report that former Twitter CEO Jack Dorsey’s mobile payment company Block Inc has committed fraud against its consumers and governments.

Hindenburg said, ‘Our 2-year investigation has resulted in the areas (demographics) in which Block Inc. claims to help people, the company systematically took advantage of those people. Is. Block Inc has also exaggerated the number of its users. Also, the company has significantly reduced the cost of adding new customers.

Hindenburg said it held a short position in Block Inc., betting on a decline in the company’s stock. Shortly after this report came out, the stock of Block Inc. has seen a decline of about 20%.