In the United States, one of the most important financial players is the payment application (virtual wallet) Cash App, which brings together 56 million users who use the platform every month, according to the company itself through the letter of shareholders of the third quarter of 2024.
However, a new class-action settlement could see some users paid up to $2,500 for a data breach that compromised their private data. The class action alleges that both Cash App and its owner company, Block, were not careful when a former Cash App Investing employee accessed account data without authorization in 2022, and when in 2023, another user logged into certain accounts using recycled phone numbers that were associated with those accounts.
Those Affected by This Cash App Data Breach Can Receive Up to $2,500
If you have used Cash App in the last six years and experienced an unauthorized transfer of funds, or your personal information or account was accessed without your permission, you may be eligible to file a claim and potentially receive a payment of up to $2,500, if you comply with the requirements.
Now, what do you need to know to determine if you are a potential beneficiary of this restitution payment? We tell you how to determine this, how to make a payment, and how to protect your personal and financial data in Cash App. In addition, we tell you everything we know about the breach that caused hundreds of customers of the app to join together in this class action lawsuit.
Who Qualifies to Claim Part of the Cash App Settlement?
You are eligible to file a claim if you meet any of the following criteria between August 23, 2018 and August 20, 2024, depending on the settlement site:
- You are a current or former Cash App or Cash App Investing customer and your personal information, Cash App account, or Cash App Investing account was accessed without your permission.
- There were unauthorized or fraudulent withdrawals or transfers of funds to or from your account.
- You had trouble resolving an error on a Cash App account or any linked financial account.
The Deadline for Cash App Settlement Claims Is Approaching
Those Americans who are determined to qualify by the administrator of the $15 million settlement may receive up to $2,500 as a one-time payment and $25 per hour for lost time, with a maximum of up to 3 billable hours. A claim can also be made for losses from documented transactions. For the above, you must provide documentation from third parties that verify that this impact really occurred.
If you qualify for a Cash App payment, you need to submit a claim form by 10:59:59 p.m. m. (Pacific Time) on November 18, 2024. This means submitting your claim online or by mail postmarked by that date. You have until November 1, 2024 to opt out of the agreement or file objections.
If you have complaints related to multiple Cash App accounts, include all information about your complaints on one form. Here is the address if you are sending by mail:
Cash App Settlement
Attn: Claim Form Submissions
1650 Arch Street, Suite 2210
Philadelphia, PA 19103