Cashapp is a way to pay and send money that a lot of people have used since 2018. People who have not lived under a rock for years probably have not used it.
The company has decided to pay $15 million to settle the lawsuits because the repeated data breaches have been proven in court. The good news? You still have one week to file a claim and get paid for the private data leak.
People said that Cash App and Cash App Investing’s parent business, Block Inc., did not properly protect user data in 2022.
This happened because a past worker got into account information without permission. After the fact, Block told the U.S. Securities and Exchange Commission that it was going to tell 8.2 million present and former users about what happened.
Cashapp’s private data from users stolen – repeatedly
The first breach of data happened in December 2021 and was caused by someone who used to work for Cash App. They got customer information without permission after leaving the company.
There was private, sensitive information from 8.2 million users in these files. In 2024, Cash App had 57 million users, which means that this breach touched about 14% of those users.
That was not the end of the story. Not long after the first breach, there was another security problem. This time, people who were not supposed to be there got into users’ accounts and made fake purchases.
A class action case was filed because of these two events. Cash App finally agreed to pay $15 million to all the customers who were hurt after months of court talks.
Cash App and its parent business, Block (formerly known as Square), say they did nothing wrong. However, the settlement shows how serious cybersecurity problems have become.
Millions of people are now very worried about keeping their personal information safe. This event shows that even well-known and trusted sites can be hacked.
Can I join the claim against Cashapp?
You might be able to make a claim if you used Cash App or Cash App Investing and your account was hacked, your personal information was stolen, or transactions were made without your permission between August 23, 2018, and August 20, 2024. You could get up to $2,500 in pay, depending on how bad it was.
People also said that Block and Cash App Investing did not do enough to protect user accounts after the security issues and did not handle customer complaints about transactions that were not approved or were fraudulent properly.
They said they did not do anything wrong, but earlier this year they agreed to pay $15 million as part of a deal.
A page set up for the settlement says that you might be eligible if:
- You are or were a user of Cash App and/or Cash App Investing.
- Your account was accessed without your consent.
- There were unauthorized or fraudulent withdrawals or transfers from your account between August 23, 2018, and August 20, 2024.
Site about the settlement says that November 18, 2024, at 10:59 p.m. PT is the last day to make a claim for a share of the settlement or to choose not to participate.
Paying up for your wasted time
You can also file a claim to get up to $25 an hour for three hours, or $75, in lost work time and for any missed transactions due to “unauthorized account activity.”
You will need to show at least one of these papers to get your transaction losses covered: a notice of the unauthorized activity, a police report about the incident, or proof that someone accessed your account without your permission.
The website has not said yet when the money will be sent. The final meeting to approve the settlement was meant to happen on December 16, 2024, but it has been pushed back to January 13, 2025.
The court still has to approve it. Use the fact that the meeting has been pushed back to join the claim now.