How you can claim up to $2,500 from Cash App $15,000,000 data breach settlement
Some Cash App users will soon receive compensation of up to $2,500 following a $15 million settlement over an alleged data breach in 2021.
The company agreed to pay the large sum in damages in August 2024 as a result of 'unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers', as per a 2022 lawsuit.
Cash App, its parent company Block Inc., as well as the lawsuit’s plaintiffs agreed to the settlement but neither company has admitted to any form of violation or wrongdoing.
The lawsuit claimed that Block Inc. and Cash App Investing LLC 'were negligent, made misrepresentations and breached other obligations to their users', further alleging that this caused "fraudulent withdrawals and transfers of funds to or from, and complaint and error resolution processes associated with, Cash App accounts and linked accounts."
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Payments from the settlement are set to be distributed to users sometime this month who submitted a claim before the deadline some two years ago.
In 2024, Cash App users were eligible submit a claim if their personal information, Cash App account or Cash App Investing account was accessed or obtained without authorization.
On top of that, people could also claim if fraudulent or unauthorized withdrawals or transfers were taken from or put into your account.
And finally, users could also apply for damages if they experienced a deficiency in the resolution of an error in a Cash App account, or any linked financial account.
Customers who experienced any of these issues between August 23, 2018 and August 20, 2024 were given the opportunity to submit a claim to take part of the $15 million proposed settlement.
Claims were submittable using the official website, or by post.
However, the settlement website states that any claims submitted after the November 2024 deadline will not be accepted.
Up to $2,500 is available per person involved in the settlement, as well as $25 per hour for reimbursement of lost time.
Cash App, a financial services platform and mobile digital wallet, allows users to spend, send and receive money directly onto their smartphone.
Available only in the US, the app also allows users to invest in crypto and other investing opportunities.
Callum Jones