Act Fast: Cash App Users Can Claim Part of $15M Settlement After Security Breach!

The clock is ticking for users of Cash App to submit their claims for compensation related to a data and security breach. The final date to file is rapidly approaching, just a few weeks away.

A recent legal settlement has mandated that the mobile payment platform distribute $15 million in damages.

Cash App Investing and its parent company Block Inc. were taken to court over allegations of not adequately protecting user data, according to the claimants in the legal action.

The security lapse impacted approximately 8.2 million individuals who were either current or past customers of Cash App Investing, the lawsuit detailed.

The lawsuit further disclosed that a former employee was able to access and download personal data of Cash App users without their consent during their tenure.

Those who experienced unauthorized or fraudulent activities in their Cash App accounts from August 23, 2018, to before August 20, 2024, may be eligible to claim up to $2,500, as stated on the Cash App’s official site.

Here’s everything you need to know about the Cash App settlement.

Am I eligible to file a claim?

To be eligible to file a claim, Cash App users must have held an account between August 23, 2018, and before August 20, 2024. Those filing claims must not have previously received compensation from Block Inc., Cash App Investing, or any third party, according to the mobile payment service.

What types of claims can be filed by Cash App users?

As per Cash App’s guidelines, eligible users can file claims for the following:

• Out-of-pocket losses: Claims can be submitted by users who can demonstrate their Cash App account was compromised in the data breach. Eligible users, upon providing necessary documentation, may receive up to $2,500.
• Lost time: Users who spent time dealing with the unauthorized access or data breach may submit a claim for reimbursement. They can claim up to three hours at a rate of $25 per hour.
• Transaction losses: Users who have incurred financial losses due to the breach and have not received compensation can file a claim.

What if I have multiple Cash App accounts?

Individuals should fill out only one claim form, even if they have several Cash App accounts. For those wishing to submit claims for multiple accounts, the service advises consolidating all relevant Cash Tags and claim details into a single form, Cash App recommends.

How do I submit a claim?

To submit a claim, users should complete and send the claim form by the deadline of November 18. The form can be submitted online at https://cashappsecuritysettlement.com/submit-claim.