March 24 (Reuters) - ASX-listed shares of Jack Dorsey-led Block Inc plunged nearly 16% on Friday after Hindenburg Research alleged that the payments firm overstated its user numbers and understated its customer acquisition costs.

The stock led declines on Australia's benchmark ASX 200 and hit its lowest since June 2022 at A$92.17 by 2313 GMT.

Block, which is currently exploring a legal action against the short-seller, said the report was "factually inaccurate and misleading".

Hinderburg's report said it found that former Block employees estimated 40% to 75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual. (Reporting by Navya Mittal in Bengaluru; Editing by Devika Syamnath)