These scams, like most others, are designed to trick users into sending personal info or money transfers. A phishing text message or email can arrive through the Venmo app. One of the vulnerabilities is this payment app is very anonymous. That’s not a bonus for money transfer services.
Requesting cash through fraudulent accounts is easier this way. If you are reading about these scams, look for any editorial note that talks about affiliate payments for the information. And ways to keep your money safe.