Heads up if you've had a Cash App account for the past six years or so: You can now claim thousands of dollars as a result of a class action settlement. The company proposed a $15 million settlement earlier this year following two security incidents. If you are eligible to file a claim, you only have a few weeks to do so.
The first related breach took place in December 2021 when, according to Cash App, a former employee downloaded reports containing information on more than 8 million users. This included their full names, brokerage account numbers, and, in some cases, the holdings and value of investment portfolios. Cash app.
The consolidated class action lawsuit alleged that Cash App and parent company Block failed to implement sufficient security measures to prevent another data breach. These were Cash App's person-to-person payment services. According to the plaintiffs, “an unauthorized user accessed certain Cash App accounts in 2023 using recycled phone numbers.” The lawsuit contended that Cash App and Block mishandled complaints related to both violations and fraudulent transactions.
Cash App and Block have denied wrongdoing. information. They say the agreement is not an admission of liability.
You may be eligible to make a claim if you had a Cash App account between August 23, 2018 and August 20 of this year. The settlement will cover up to $2,500 in out-of-pocket costs resulting from violations, as well as up to three hours of lost time at $25 per hour. Those who have suffered a monetary loss and have not yet received a refund can also file a claim for this.
If you plan to file a claim through the You will need to do so by 2 a.m. ET on November 19. The final court hearing in the case is scheduled for December 16.
