Cash App Settlement: Are You Eligible for Up to $2,500?

Users of popular online payment site Cash App may be eligible to claim a share of the $15 million in damages that was paid out in connection with a series of data breaches.

According to the settlement website, Block Inc., owner of Cash App, was “negligent and breached other obligations” to users when it “failed to implement adequate controls to prevent unauthorized access” to accounts. In 2022, approximately 8.2 million Cash App users were notified of a breach involving a former employee who downloaded investment reports containing full names, brokerage account numbers, portfolio values ​​and holdings, and one day of stock trading. Then, a year later, an “unauthorized user” accessed Cash App information using phone numbers associated with the prior accounts.

Block and Cash App Investing have not admitted liability or wrongdoing, but have agreed to a $15 million settlement.

Who can benefit from the settlement?

To be eligible to apply for the scholarship, an individual must have been a Cash App or Cash App Investing user whose data was accessed without permission or whose account was subject to unauthorized or fraudulent withdrawals or transfers between August 23, 2018 and August 20, 2024.

Customers who can prove out-of-pocket losses are eligible for up to $2,500, but must provide “third-party documentation” to prove the losses. You can also file a claim for up to three hours of lost work at $25 per hour. More information on required documentation can be found here.

Out-of-pocket expenses can include things like costs associated with credit monitoring, identity theft insurance or credit report requests, costs associated with placing a credit freeze, opening a new bank account or obtaining a replacement credit card.

The deadline for submitting complaints is November 18. You can submit a complaint here.