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$15 Million Settlement Reached After Cash App Data Breach Exposes Millions of Users’ Information
Former Employee’s Unauthorized Access to User Data Central to Cash App Lawsuit
According to the posted article in USA Today, Cash App users could soon receive a payout after a $15 million settlement was reached in a class-action lawsuit against the mobile payment service and its parent company, Block Inc. The settlement stems from a data breach in December 2021 which exposed the personal information of 8.2 million current and former Cash App Investing customers. The lawsuit alleged that Cash App and Block Inc. failed to properly secure and safeguard users’ data. In addition to the data breach the lawsuit claimed that a former employee accessed and downloaded users’ personal information without their knowledge during their employment.
Eligible Cash App users can submit claims for compensation as part of a settlement with potential payouts of up to $2,500. To qualify users must have had a Cash App account between August 23, 2018, and August 20, 2024 and must not have already been reimbursed by Block Inc., Cash App Investing, or a third party. Users can file claims for three types of losses: Out-of-Pocket Losses (for financial losses due to the data breach, up to $2,500 with documentation), Lost Time (for time spent dealing with the breach, up to three hours at $25 per hour), and Transaction Losses (for unreimbursed monetary losses).
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$15 Million Settlement: Cash App Users Eligible for Payout (PHOTO: MSN)
Important Details for Cash App Users Seeking Compensation
Additionally, those who have several Cash App accounts ought to submit a single claim form that includes all of their CashTags and pertinent data. November 18, 2024 is the deadline for submitting a completed claim form. Through this settlement impacted Cash App customers will be able to get payment for the financial losses and inconveniences brought on by the data breach. It is urged for anyone who fit the requirements to submit a claim in order to get their piece of the $15 million settlement. Before the deadline of November 18, 2024 users should visit the Cash App website for more information in-depth and to submit a claim.
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