Cash App users who filed claims after a 2021 data and security breach may soon begin receiving payments from a $15 million settlement.
In August 2024, the mobile payment service agreed to pay $15 million in damages after a December 2021 breach. The breach resulted in the “unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers,” according to the class-action lawsuit filed in 2022.
Cash App, its parent company Block and the plaintiffs agreed to the settlement in March 2024. Neither Block nor Cash App admitted to any violations of the law.
Settlement payments for people who filed claims before the Nov. 18, 2024, deadline are expected to begin going out in October, according to the settlement website.
Who Is Eligible for a Payment?
Cash App users who had unauthorized or fraudulent withdrawals or transfers from their account between Aug. 23, 2018, and Aug. 20, 2024, were eligible to file claims, according to the settlement website.
Claimants could seek reimbursement for out-of-pocket losses of up to $2,500, including monetary losses from transactions and lost time. The settlement allowed up to three hours of lost time at $25 an hour.
The deadline to file a claim was Nov. 18, 2024.
What Is Cash App?
Launched in 2013, Cash App is a mobile financial platform that works like a digital wallet, allowing users to send and receive money, invest in Bitcoin and stocks, apply for loans and file taxes. Although it is not a bank, Cash App offers an interest-earning savings account and a debit card for purchases and ATM withdrawals.
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