In 2021 and 2023, Cash App experienced two separate data breaches – one in which a former employee downloaded user transaction reports, and another in which an unauthorized person accessed user account data.
A new class action lawsuit alleges that Cash App was negligent in handling these breaches and failed to adequately address customer concerns. Now, the company is paying compensation to affected users—if you suffered a financial loss, you may be entitled to it.
The exact amount each user receives depends on how many users file a lawsuit and how much the lawyers get, but the settlement page states that you can file a lawsuit for up to $2,500 to offset losses.
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However, many members of the class action lawsuit lost much more. According to one woman’s lawsuit, she lost $40,000 and spent hundreds of hours recovering from the data theft. Other users complained about thieves stealing money to buy bitcoins, Google Marketplace gift cards, Roblox marketplace items, stocks, and more. Some members of the class action lawsuit had all of their money stolen at once, while others had it stolen over time on as many as 75 separate occasions.
What kind of losses can users recover?
If the Cash App security breach required you to pay for credit monitoring, request a credit report, close or replace a payment card, close a bank account and open a new one, or pay an overdraft or late fee, you may be able to get that amount reimbursed. You’ll need third-party documentation to prove those amounts, and you can also claim up to three hours of lost time at $25 per hour.
How do you know if you are eligible?
The lawsuit documents state that anyone who was a Cash App customer from August 23, 2018, through August 20, 2024, and whose account information was accessed without their consent or who was the victim of fraudulent withdrawals or money transfers as a result of the breach is eligible to file.
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If you were affected by the Cash App data breach, you can join the class action lawsuit here.
