If you’ve held a Cash App account at any time in the past six years, you could be eligible for compensation under a $15 million class-action settlement proposed earlier this year. The settlement addresses two major data breaches involving Cash App’s services, and eligible users have only a few weeks left to submit their claims.
The first breach, disclosed by Cash App in April 2022, occurred when a former employee allegedly downloaded sensitive data in December 2021. The breach reportedly exposed personal information for more than 8 million users, including full names, brokerage account numbers, and in some cases, investment portfolio values. The compromised data did not include social security numbers or bank account details, but the breach still raised serious privacy concerns.
A subsequent security incident occurred in 2023, involving unauthorized access to certain Cash App accounts using recycled phone numbers. Plaintiffs in the consolidated class-action suit allege that Cash App and its parent company Block failed to implement adequate security measures, leading to these breaches and, in some cases, allowing fraudulent transactions to go unresolved.
Despite settling, Cash App and Block deny any wrongdoing, emphasizing that the settlement is not an admission of liability, according to The New York Times.
Eligible Cash App users who held accounts between August 23, 2018, and August 20, 2023 may file a claim to cover up to $2,500 in out-of-pocket expenses linked to the breaches. The settlement also compensates for lost time, at $25 per hour for up to three hours, for those who spent time dealing with the repercussions of the breaches. Any users who suffered monetary losses and have not received reimbursement are also encouraged to file a claim.
To submit a claim, users need to visit the settlement website and complete their filing by 2 a.m. ET on November 19, 2023. A final hearing on the case is scheduled for December 16, which will determine the fate of the settlement and, ultimately, the disbursement of compensation to affected users.
For more information on the settlement and how to file a claim, visit Engadget https://www.engadget.com/big-tech/cash-app-users-can-claim-thousands-of-dollars-in-a-data-breach-settlement-194520756.html. With the November 19 deadline approaching, eligible users are encouraged to act promptly to secure any potential reimbursement.
