Users of the popular online payment site Cash App may be entitled to a share of a $15 million compensation package related to a series of data breaches.
According to the settlement website, Cash App owner Block Inc. acted “negligently and breached other duties” to users when it “failed to implement appropriate controls to prevent unauthorized access” to accounts. In 2022, approximately 8.2 million Cash App users were notified of a breach in which a former employee downloaded investment reports containing full names, brokerage account numbers, portfolio values and holdings, and a day’s worth of stock trading. Then, a year later, an “unauthorized user” gained access to Cash App information using phone numbers linked to the former accounts.
Block and Cash App Investing denied any liability or wrongdoing but agreed to the $15 million settlement.
Who is entitled to the settlement?
To be eligible, someone must have been a Cash App or Cash App Investing user whose information was accessed without permission or whose account had unauthorized or fraudulent withdrawals or transfers made between August 23, 2018 and August 20, 2024.
Clients who can prove out-of-pocket expenses are eligible for reimbursement of up to $2,500, but must provide “third-party documentation” to prove the losses. They can also request reimbursement for up to three hours of lost work at a rate of $25 per hour. More information on required documentation can be found here.
Examples of out-of-pocket expenses may include credit monitoring costs, identity theft insurance, requesting a credit report, credit freeze costs, opening a new bank account, or applying for a replacement credit card.
The deadline to file a claim is November 18. You can file a claim here.
