ATLANTA–Customers who have used Cash App accounts may be entitled to receive up to $2,500 each as part of a $15 million settlement related to a data breach involving the payments and investment platform, according to court documents and the company.
In 2022, sensitive information for more than eight-million Cash App users was exposed as part of a breach, according to the company’s parent company, Block. The data was exposed when a former employee downloaded corporate reports after leaving the company, according to the company’s regulatory filing.
Second Breach
A second breach involving more customers took place in 2023 with Cash App’s person-to-person payment services after the company failed to take security measures, according to a consolidated class-action complaint filed in February in United States District Court for the Northern District of California.
It said that Block and Cash App were negligent in allowing unauthorized access to personal identification information, and that they mishandled complaints about the breaches and fraudulent transactions.
How to Submit a Claim
As part of a proposed $15 million settlement agreement that filed in March, those who had of Cash App accounts from Aug. 23, 2018, through Aug. 20, 2024 have the option of submitting a claim for out-of-pocket losses of up to $2,500, as well as other costs.
In a statement, Block and Cash App have denied they did anything wrong and said that the settlement was not an admission of liability.
The deadline to submit claims is Nov. 18, and a final court hearing is set for Dec. 16.