If you’ve been a Cash App user at any point over the past six years, you may be eligible to receive a share of a $15 million settlement following a series of data breaches. The settlement was proposed by Cash App’s parent company, Block, in response to a class-action lawsuit claiming security failings that led to unauthorized access of user data. Here’s everything you need to know about filing a claim.
The Breach Timeline
The first breach, occurring in December 2021, involved a former Cash App employee who allegedly downloaded sensitive data from the platform. This data included full names, brokerage account numbers, and, in some cases, the value and holdings of users’ investment portfolios. Over 8 million Cash App users were affected, and the company disclosed the incident in April 2022.
More recently, the consolidated lawsuit also cited a 2023 breach where an unauthorized individual allegedly accessed Cash App accounts using recycled phone numbers. The plaintiffs argued that Cash App’s person-to-person payment service lacked adequate security measures and that both Cash App and Block mishandled complaints about these breaches and associated fraudulent activities.
Settlement Eligibility and Compensation
Cash App and Block have denied any liability in the case, clarifying that the settlement does not constitute an admission of wrongdoing, according to The New York Times. However, users who had a Cash App account between August 23, 2018, and August 20, 2023, are eligible to file a claim. The settlement covers up to $2,500 in out-of-pocket costs related to the breaches and compensates for lost time at a rate of $25 per hour for up to three hours. Additionally, those who suffered unreimbursed financial losses can apply for reimbursement.
Eligible users should submit their claims by 2 AM ET on November 19 through the official settlement website. The final court hearing is set for December 16, when the terms of the settlement will be confirmed.
To find out more about eligibility and submit a claim, visit Engadget. With the deadline approaching, Cash App users impacted by these incidents are encouraged to act promptly and secure compensation for any losses incurred.