The mobile payment service, similar to Venmo, allows users to send and receive money, invest, pay merchants, and buy Bitcoin. However, a lawsuit over data and security breaches just led to a $15 million settlement. So, if you’re a loyal Cash App user, Cash App and its parent company, Block, may owe you money.
According to the lawsuit, a December 2021 breach led to the “unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers.” The lawsuit alleged that the company failed “to exercise reasonable care in securing and safeguarding consumer information.” A former employee gained access to users’ data, as well. Some plaintiffs alleged they lost thousands in the breach, and around 100 hours dealing with the fallout.
Here’s what you need to know about the settlement.
Am I eligible?
Millions of people use Cash App. But you’re only eligible to file a claim if you had the app during specific dates and saw unauthorized charges on your account. If users had unauthorized charges between August 23, 2018, and August 20, 2024, they may be eligible for part of that settlement.
How do I file a claim?
Cash App users can visit the settlement page to submit a claim, and should only submit one claim, even if they had multiple Cash App accounts, the settlement says. Users should submit all their information, regarding all accounts, on a single claim form.
What kind of claims can I file?
- Out-of-pocket losses: Users can claim out-of-pocket losses for credit monitoring costs, credit freezes, or postage fees. They can make claims of up to $2,500.
- Lost time: Users can also use the Lost Time claim for up to three hours at $25 per hour. This accounts for “time spent in response to a Data Security Incident or an Unauthorized Account Event or a deficiency in error resolution in connection with a Cash App or Cash App Investing account.”
- Transaction losses: This claim is for a specific monetary loss that has not been paid back.
How much should I expect to get back?
It’s not clear how much users may end up receiving, as that will depend on how many people file claims.
Cash App and Block say the settlement is not an admission of guilt and deny any wrongdoing, according to the settlement.
Claims must be filed via the settlement page by November 18, 2024.