The Cash App, owned by Block, Inc., faced significant issues with data breaches that put user information at risk. In response, Block, Inc. has agreed to settle a class action lawsuit with a $15 million fund to compensate affected users. Here’s a breakdown of the case and how eligible users can make a claim.
Overview of the Cash App Data Breaches
Cash App experienced two main data breaches. The first incident was in 2021, when a former employee downloaded confidential user data without authorization.
The second breach occurred in 2023, when linked phone numbers allowed unauthorized access to certain accounts.
Block, Inc. has been accused of not having adequate security and not properly handling customer complaints after these breaches. Although the company has agreed to a settlement, it denies any wrongdoing.
Cash App Settlement Details
The lawsuit settlement includes a fund of $15 million to compensate eligible Cash App users. Those affected may receive up to $2,500 to cover out-of-pocket costs like credit monitoring or other security-related expenses.
Who is Eligible for the Cash App Settlement?
To be eligible, users must have had a Cash App or Cash App Investing account between August 23, 2018, and August 20, 2024. Eligible users must have experienced unauthorized account access, fraudulent withdrawals, or errors on their accounts caused by Cash App.
How to File a Claim
Eligible users can submit their claim either online or by mail, but they must do so by November 18, 2024, at 10:59:59 p.m. PT. If mailing, ensure the form is postmarked before this date. Claims can be mailed to:
Cash App Settlement
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
Compensation Amounts and Limits
Approved users can receive compensation based on their losses. Out-of-pocket losses like security measures and unauthorized transactions may be reimbursed up to $2,500.
Users can also claim up to $25 per hour for up to three hours of lost time dealing with breach-related issues if they provide proof.
When Will Settlement Payments Be Made?
The court will hold a final hearing on December 16, 2024, after which eligible payments should begin in early 2025.
Tips for Cash App Users
To protect against future issues, Cash App users should:
- Use strong, unique passwords.
- Enable two-factor authentication.
- Monitor their account for unusual activity.
This Cash App data breach settlement provides an opportunity for users affected by these security lapses to receive compensation.
Filing a claim with proof of losses or inconvenience may result in reimbursement. Moving forward, users are encouraged to secure their accounts to avoid similar issues.
1. How much money can I get from the Cash App settlement?
Eligible users may receive up to $2,500 to cover specific losses, and $25 per hour for up to three hours for lost time if they have proof.
2. Who qualifies for the settlement?
Users with a Cash App or Cash App Investing account between August 23, 2018, and August 20, 2024, who experienced unauthorized access or fraud.
3. How do I file a claim?
You can file a claim online or by mail. Claims sent by mail must be postmarked by November 18, 2024.
4. When will I receive my payment?
Payments should begin after the final hearing on December 16, 2024, likely in early 2025.
5. What proof do I need for compensation?
You’ll need documentation for unauthorized transactions, security-related expenses, or proof of time spent dealing with the issue.
