Cash App users can claim thousands of dollars in a data breach settlement

Cash App users can claim thousands of dollars in a data breach settlement

Kris Holt

Heads up if you’ve had a Cash App account over the last six years or so: you may now be able to claim thousands of dollars as a result of a class-action settlement. The company proposed the $15 million settlement earlier this year following two security incidents. If you’re eligible to make a claim, you only have a few weeks to do so.

The first related breach took place in December 2021 when, according to Cash App, a former employee downloaded reports containing information on more than 8 million users. This included their full names, brokerage account numbers and, in some cases, the holdings and value of investment portfolios. Cash App disclosed the incident in April 2022.

The consolidated class-action complaint alleged that Cash App and parent company Block failed to enact sufficient security measures to prevent another data breach. This involved Cash App’s person-to-person payment services. According to the plaintiffs, “an unauthorized user accessed certain Cash App accounts in 2023 using recycled phone numbers.” The complaint contended that Cash App and Block mishandled complaints related to both breaches and fraudulent transactions.

Cash App and Block have denied any wrongdoing, The New York Times reports. They say the settlement is not an admission of liability.

You may be eligible to make a claim if you had a Cash App account between August 23, 2018 and August 20 of this year. The settlement will cover up to $2,500 of out-of-pocket costs stemming from the breaches, as well as up to three hours worth of lost time at $25 per hour. Those who have sustained a monetary loss and haven’t yet been reimbursed can file a claim for that too.

If you plan to file a claim through the settlement website, you’ll need to do so by 2AM ET on November 19. A final court hearing in the case is set for December 16.

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