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Americans told how to claim up to $2,500 from Cash App’s $15,000,000 data breach settlement
It has been revealed how Americans can claim payments of up to $2,500 as part of a $15 million settlement on Cash App, resolving a class-action lawsuit over alleged security breaches and unauthorized transactions.
The lawsuit followed an alleged 2021 data breach that reportedly exposed the personal information of approximately 8.2 million current and former Cash App Investing customers.
How Americans can find out if they are eligible
According to USA Today, the case was filed four years ago over the alleged “unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers”.
Cash App’s parent company, Block Inc., agreed to settle the case in 2024, but neither company admitted to any wrongdoing as part of the agreement, with payments expected to be distributed to eligible users who submitted claims before the deadline following an announcement on the company’s website.
To qualify, users must have experienced qualifying unauthorized or fraudulent withdrawals or transfers involving their Cash App accounts between August 23, 2018, and August 20, 2024.
Moreover, they were also required to submit a claim by November 18, 2024, with anyone missing that deadline ineligible to submit a new claim under the settlement, according to the official website.
Eligible claimants could seek reimbursement for certain out-of-pocket losses, with payments capped at $2,500. This could include losses resulting from qualifying transactions, as well as time spent dealing with the incident.
Compensation for lost time was capped at three hours, valued at $25 per hour, with the total $15 million settlement fund also covering legal fees and administrative expenses, meaning the full amount will not be distributed directly to users.
Those who previously filed a claim can check the settlement's official website for information about the payment process and their eligibility.
What is Cash App?
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Cash App launched in 2013 and has grown into a popular mobile financial platform, allowing users to send and receive money, invest in stocks and Bitcoin, apply for loans and file taxes.
USA Today has described the service as operating like a “digital wallet”, and although Cash App is not a bank, it also offers features including an interest-earning savings account and a debit card that customers can use to make purchases and withdraw cash from ATMs.