Hindenburg targets Jack Dorsey's payments firm Block: All we know so far

Short-seller Hindenburg Research has yet again come out with a report saying that Block Inc has willingly facilitated fraud against consumers and governments.

Block Inc was founded by entrepreneur Jack Dorsey and it offers payment and mobile banking services for merchants and consumers. The company, formed in 2009 was known as Square, came up with a disruptive idea. It used a tiny card reader that could plug into a smartphone’s headphone jack to easily enable artists and vendors to take credit card payments.

Hindenburg, in its blog said, "Our 2-year investigation has concluded that Block has systematically taken advantage of