If you’ve had a Cash App account in the past six years, take note: 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 after two safety incidents. If you are eligible to file a claim, you have only a few weeks to do so.
The first related breach occurred 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 assets and value of investment portfolios. Cash App.
The consolidated class action complaint alleged that Cash App and parent company Block failed to implement sufficient security measures to prevent another data breach. This concerned 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 alleged that Cash App and Block mishandled complaints involving both breaches and fraudulent transactions.
Cash App and Block have denied any wrongdoing, 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 covers up to $2,500 in out-of-pocket costs resulting from the violations, as well as up to three hours of lost time at $25 per hour. Those who have suffered a monetary loss and have not yet received compensation can also file a claim for the same.
If you plan to file a claim through the , you must do so by November 19 at 2:00 AM ET. A final court hearing in the case is scheduled for December 16.
