$15 Million Settlement: Cash App Users Can Seek Compensation for Data Breach Affecting 8.2 Million Customers!

Cash App Users Eligible for Compensation in $15 Million Data Breach Settlement

Details on Filing Claims and Eligibility Criteria

According to USA TODAY, Cash App users affected by a significant data breach in December 2021 now have the opportunity to seek compensation through a $15 million settlement resulting from a class-action lawsuit. The lawsuit alleged that Cash App Investing and its parent company Block Inc. failed to adequately safeguard the personal information of 8.2 million current and former Cash App Investing customers. This breach led to the unauthorized exposure of personally identifiable information including instances where a former employee accessed and downloaded user data without authorization.

Users who suffered unauthorized or fraudulent withdrawals or transfers from their Cash App account between August 23, 2018 and before August 20, 2024 are eligible to file claims for reimbursements of up to $2,500. Additionally, users can submit claims for compensation for lost time spent addressing unauthorized transactions and the aftermath of the breach. This includes reimbursement for up to three hours of time at a rate of $25 per hour. The settlement aims to provide financial redress for the losses and inconvenience caused by the security incident.

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$15 Million Settlement: Cash App Users Can Seek Compensation for Data Breach Affecting 8.2 Million Customers! (PHOTO: Issuu)

Deadline and Requirements for Cash App Users Seeking Compensation

To qualify for compensation Cash App users must have held an account during the specified period and not have already received reimbursement from Cash App Investing Block Inc. or any other third party. Claims must be submitted by November 18, 2024 using the designated claim form provided by Cash App. This settlement underscores ongoing concerns surrounding data security in financial technology services and underscores the critical need for robust cybersecurity measures to safeguard user information against unauthorized access and breaches. It serves as a reminder of the importance of vigilance in protecting sensitive personal data in an increasingly digital world.

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