The data breach was carried out by a former Cash App employee and potentially affected 8.2 million users.
If you had a Cash App account sometime over the past six years, you may be entitled to a nice chunk of cash from a data breach settlement. However, you have to act fast: The deadline to file a claim is Nov. 19.
The Cash App data breach: Owned by Block, which is led by former Twitter CEO Jack Dorsey, Cash App is one of the most popular payment apps in the U.S. The company disclosed the data breach in a filing with the Securities and Exchange Commission in 2022.
In the filing, Block explained that a former employee downloaded reports that contained certain customer information, including their full name and brokerage account number, in December 2021. This account number is linked to customers’ stock activity on Cash App Investing. Block stated that no other personal identifiable information, such as usernames and passwords, Social Security numbers, or birthdates, were accessed in the breach.
The settlement. Users filed a class-action complaint in U.S. District Court earlier this for against the company for failing to take adequate security measures and mishandling user complaints related to the data breach. (In addition, the complaint also revealed a second data breach in 2023).
The company proposed a $15 million settlement in response to the complaint. The settlement is not an admission of liability.
Who qualifies for the Cash App settlement: Users who had a Cash App account between Aug. 23, 2018 and Aug. 20, 2024 qualify for a part of the settlement. The settlement provides users with reimbursement from out-of-pocket losses, lost time, and transaction losses.
How to claim your part of the Cash App settlement: Affected users are entitled to up to $2,575. To claim your part, you first have to submit a claim on the settlement website and then just wait to hear back. The judge will decide whether to approve the settlement on Dec. 19.
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