How to claim up to $2,500 from the $15 million Cash App data breach settlement

In response to a significant data breach that compromised sensitive user information, Cash App's parent company, Block, Inc., has agreed to a $15 million settlement. Affected users may now claim compensation of up to $2,500, provided they meet the eligibility requirements.

The data breaches, which occurred in December between 2022 and 2023, exposed the personal data of millions of Cash App users, including full names, brokerage account numbers, and portfolio values. The 2022 breach was traced back to a former employee who downloaded the data without authorization.

The lawsuit, titled Salinas, et al. v. Block Inc., et al. (a class action lawsuit), alleges that Cash App, was found negligent and in breach of obligations to users after unauthorized access to personal data occurred twice—in 2022 by a former employee and in 2023 by a hacker using recycled phone numbers.

The $15 million settlement is intended to resolve the numerous lawsuits filed against Block, Inc. and Cash App Investing, LLC, following the breach. While the company has not admitted to any wrongdoing, it has agreed to the settlement to avoid prolonged litigation.

Eligibilities and Requirements

After attorney fees, administrative costs, and service payments are deducted, the remaining settlement funds will be used to pay eligible claims. To qualify as a class member in the settlement, you must meet certain criteria: you are a current or former customer of Cash App, Cash App Investing, or any of their affiliates, parents, or subsidiaries.

Additionally, your personal information or account must have been accessed or obtained without your authorization. You may also qualify if you experienced unauthorized or fraudulent transactions, or unresolved errors in your Cash App or linked financial accounts between August 23, 2018, and August 20, 2024. If these conditions apply to you, it’s important to submit a claim.

Eligibility Criteria Recap:

To qualify for the settlement, individuals must meet the following criteria:

• Be a current or former Cash App user.
• Have had personal or account information accessed without consent.
• Have experienced fraudulent transactions between August 23, 2018, and August 20, 2024.

How to File a Claim of $2,500 to Cash App

Eligible users can file a claim through the settlement website, where they will need to provide documentation proving that they were impacted by the breach. This may include evidence of identity theft, fraudulent charges, or other financial losses incurred as a direct result of the breach.

In other words, class members can claim up to $2,500 for out-of-pocket losses linked to a Cash App data breach, up to three hours of lost time at $25 per hour, or documented transaction losses due to unauthorized account access. After receiving a Notice ID and Confirmation Code, you can submit your claim through cashappsecuritysettlement.com/submit-claim. The submission deadline is November 18, 2024.

The deadline to file a claim is November 18, 2024, and claimants are advised to submit their claims as soon as possible to ensure they are processed in a timely manner. Once claims are reviewed and approved, payments will be distributed, with the amount varying based on the severity of the impact on each claimant.

However, it's important to let you know that payments from the settlement are expected to range from a few hundred dollars to a maximum of $2,500 per individual, depending on the level of damage experienced. The final amount will depend on the number of valid claims submitted and the specific losses reported.

Conclusion

The Cash App data breach settlement provides a significant opportunity for affected users to receive compensation for the breach of their personal data. Those eligible are encouraged to file their claims promptly to take advantage of this settlement.

On the other hand, Block, Inc. has emphasized that it has since strengthened its data security measures to prevent future breaches. In a statement, the company expressed regret over the incident and reassured users that protecting their personal information remains a top priority.

Remember, when you submit a claim, you're doing so under penalty of perjury. If you don't qualify for the settlement, do not file a claim. Submitting a fraudulent claim harms those who are genuinely eligible for the class-action settlement.

FAQs

Is Cash app Security Settlement Real?

Yes, the Cash App security settlement is real. It involves a $15 million payout to users whose personal information was compromised in data breaches that occurred in 2022 and 2023. The class action lawsuit alleges that Cash App, operated by Block Inc., failed to adequately protect user data, leading to unauthorized access and fraudulent transactions. Although Cash App has not admitted wrongdoing, they have agreed to this settlement, allowing eligible users to claim up to $2,500 for documented losses related to the breaches. Claims must be submitted by November 18, 2024, and the final approval hearing for the settlement is scheduled for December 16, 2024.

What is Cash App security settlement?

Cash App security settlement is a $15 million agreement resulting from a class action lawsuit against Block Inc. and Cash App Investing, alleging negligence in protecting user data during breaches that occurred in 2022 and 2023.

What is Class Action Lawsuit?

A Top Class Action Lawsuit is a civil lawsuit brought on behalf of a group (class) of people or business entities who have suffered common injuries as a result of the defendants' conduct, with at least one individual or entity acting as a representative of that group. It's originated in the United States and predominantly an American phenomenon, however, several European countries with civil law have allowed class actions.

Class actions allow multiple plaintiffs to join forces and pursue the same defendant in court, enabling the fair and efficient resolution of legitimate claims of numerous parties by aggregating their claims into a single action. These lawsuits are often the only way for individuals to pursue their claims as they lower the cost of legal pursuit, particularly against large corporations. If the plaintiff wins, awards are paid out among members of the class, though not necessarily in equal amounts. The $15 million Cash App data breach class action settlement provides compensation to eligible users whose personal information was compromised in data breaches that occurred in 2022 and 2023 is a typical example of a top class action lawsuit.