Cash App Data Breach Settlement: How to Claim Up to $2,500

Cash App users are now presented with an opportunity to receive compensation as part of a $15 million class-action settlement. This settlement addresses the data and security breaches that occurred within the mobile payment service, which have affected numerous customers over the past few years. The breaches have raised significant concerns regarding the safety and security protocols employed by Cash App and its parent company, Block Inc. Customers whose accounts were accessed without authorization or who experienced fraudulent withdrawals or transfers are eligible to file a claim. This comprehensive guide will provide detailed information on how to proceed with your claim and what to expect from the settlement process.

The settlement covers a specific period from August 23, 2018, to August 20, 2024, during which the breaches occurred. The lawsuits were initiated by customers who claimed negligence on the part of Cash App when a former employee accessed account data without permission in 2022. This incident was followed by another unauthorized access event in 2023, where an unauthorized user accessed accounts using recycled phone numbers. These events led to further lawsuits and allegations that Cash App and Block Inc. failed to implement proper controls to prevent unauthorized access. Despite denying any liability or wrongdoing, both companies have agreed to the settlement to resolve the claims.

To file a claim, customers can visit the settlement website, where they can submit their information. A claim can be made with a notice ID and confirmation code received via mailed or emailed notice, or even without one. The deadline to submit a claim is November 18, 2024. The amount each customer will receive from the settlement is currently unknown and will depend on the number of claims filed. However, customers affected by the data and security breaches can submit a claim for up to $2,500 for reimbursement of out-of-pocket losses. It is important to note that third-party documentation is required to support the claim.

In addition to out-of-pocket losses, customers can also claim up to three hours of lost time at a rate of $25 per hour. This provision is particularly useful for those who had to spend considerable time dealing with the aftermath of the breaches, such as contacting customer service, filing police reports, or monitoring their accounts for further unauthorized activities. Those who experienced transaction losses on Cash App can also file a claim, provided they submit the necessary documentation, such as a copy of a police report or correspondence with Cash App.

The first data breach, which was caused by a former employee, resulted in the sensitive personal information of 8.2 million customers being published online. This breach exposed customers to potential identity theft and financial fraud, causing widespread concern and distress. The second breach, which occurred last year, involved unauthorized transactions being made from some customers’ accounts. These incidents highlighted significant vulnerabilities in Cash App’s security protocols, leading to the class action complaint that alleged negligence on the part of Cash App and Block Inc.

Despite the serious nature of the breaches, Cash App and Block Inc. have consistently denied any wrongdoing. They maintain that they have always prioritized the security and privacy of their customers’ information. Nevertheless, the settlement agreement includes provisions for covering attorneys’ fees, costs, and settlement administration fees. This ensures that the majority of the $15 million settlement fund is allocated towards compensating affected users.

Eligible users for the settlement include both Cash App and Cash App Investing users whose information was accessed without permission. This eligibility extends to those who had unauthorized or fraudulent withdrawals or transfers of funds from their accounts between August 23, 2018, and August 20, 2024. Claimants may seek damages for out-of-pocket losses, lost time, and transaction losses. Out-of-pocket losses must be substantiated with third-party data and can include expenses such as credit monitoring, identity theft insurance, credit reports, and credit freezes.

Out-of-pocket expenses will be covered up to $2,500 per class member under the settlement. This means that if you incurred expenses related to protecting your identity or monitoring your credit as a result of the breaches, you could be reimbursed for these costs. Additionally, claimants may seek compensation for up to three hours of lost time at $25 per hour. This provision acknowledges the inconvenience and time spent by customers in dealing with the repercussions of the breaches.

More information on submitting a claim for transaction losses can be found on the settlement website. It is crucial to gather all necessary documentation before submitting your claim to ensure that it is processed smoothly. Claims must be submitted by the deadline of November 18, 2024. The settlement covers a timeframe of six years, from August 23, 2018, to August 20, 2024, providing ample coverage for those affected by the breaches during this period.

This settlement aims to provide extra money to affected users of Cash App, helping them recover from the financial and emotional impact of the breaches. While Cash App and its parent company have agreed to the settlement, they continue to deny any wrongdoing. However, the settlement serves as a form of restitution for the affected customers, acknowledging the breaches and providing a means for compensation.

It is important for users to act promptly and submit their claims before the deadline. The process is straightforward and can be completed online through the Cash App Security Settlement website. By participating in the settlement, users can seek compensation for out-of-pocket losses, lost time, and transaction losses, helping to mitigate the impact of the breaches on their financial well-being.

In conclusion, the $15 million settlement for the Cash App data breaches provides a significant opportunity for affected users to receive compensation. By understanding the eligibility criteria, gathering necessary documentation, and submitting claims before the deadline, users can take advantage of this settlement to recover from the breaches. While Cash App and Block Inc. continue to deny any wrongdoing, the settlement represents a step towards addressing the security concerns and providing restitution for the affected customers.