If you had a Cash App account between August 2018 and August 2024, you could be eligible to claim up to $2,575 in damages for the data breach, but only if you file a claim quickly …
Cash App data breach
Cash App is owned by Block, formerly known as Square. Back in 2022, the company disclosed a data breach that affected 8.2 million users.
The company said a former employee retained access to customer information in the U.S. despite leaving the company months earlier. Cash App is one of the most popular iOS apps and a competitor to Apple's own cash register service.
Cash App is notifying about 8.2 million of its users about the breach, TechCrunch reported. Information potentially available to the former employee includes full names and brokerage account numbers. In some cases, the employee also had access to “brokerage portfolio value, brokerage portfolio assets, and stock trading activity for a single trading day.”
Company Agrees to Offer Compensation
In response to a class action lawsuit filed against the company, Block did not admit liability but agreed to compensate victims for their costs and time spent resolving the matter.
Engadget says the deadline to file your claim is rapidly approaching.
You may be eligible to file 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 in out-of-pocket expenses related to the violations, as well as up to three hours of lost time at a rate of $25 per hour. Those who have suffered monetary losses and have not yet received reimbursement can also file a claim for it.
If you plan to file a claim through the settlement website, you will need to do so by 2 a.m. ET on November 19.
Once you file your claim, you will need to wait until December 19 to hear whether the judge accepts the settlement agreement or not. If not, it could be mixed news: you will have to wait longer to receive payment, but it may be for a larger amount.
Image by Maria Shalabayeva on Unsplash
