If you’ve ever used Cash App to send or receive money, you may be eligible to receive part of a $15 million class action settlement.
A new lawsuit settlement says the money transfer platform “failed to exercise reasonable care” in protecting its customers’ personal information before mass data leaks in 2021 and 2023 that affected an estimated 8.2 million users.
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The 2021 lawsuit alleges that a Cash App employee unauthorizedly downloaded user information to the backend.
Other allegations in the lawsuit say Cash App and its parent company Block acted “negligently” and “breached other obligations to users” by mishandling customer complaints about unauthorized or fraudulent transactions on accounts.
Block and Cash App both deny any liability for the allegations.
Who is entitled to payment?
Cash App users with an account on the platform whose personal information was accessed without authorization or those who were victims of fraudulent transactions on their account between August 23, 2018 and August 20, 2024 are eligible to file a claim.
Anyone wishing to be entitled to a settlement payment can now submit an application for payment of compensation via the settlement administrator’s website until November 18.
How much can Cash App users get?
Those who receive a portion of the compensation may receive up to $2,500, depending on eligibility and the number of people filing a claim.
Customers can make claims in three different areas: cash losses, transaction losses and lost time.
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Those making a claim for compensation for cash withdrawals can receive up to $2,000, while those making a claim for compensation for lost time can receive up to $25 for three hours and an unspecified amount of money for transaction losses.
“Block and Cash App Investing have also agreed to certain valuable improvements to their data security,” the settlement administrator’s statement said, but it did not specify what these improvements were.
