If you’ve had a Cash App account in the last six years or more, beware: you can now claim thousands of dollars as a result of a class action. The company offered a $15 million settlement earlier this year after two security incidents. If you are eligible to make a claim, you only have a few weeks to do so.
The first related breach occurred in December 2021, when a former employee downloaded reports containing data on more than 8 million users, according to Cash App. This includes their full names, brokerage account numbers and, in some cases, the holdings and value of their investment portfolios. Cash program .
The consolidated class action complaint alleged that Cash App and parent company Block failed to take sufficient security measures to prevent another data breach. This included Cash App’s person-to-person payment services. According to the plaintiffs, “an unauthorized user accessed certain Cash App accounts in 2023 using reused phone numbers.” The complaint alleges that Cash App and Block mishandled complaints of both violations and fraudulent transactions.
Cash App and Block have denied any wrongdoing, reports. They say reconciliation is not an admission of responsibility.
If you had a Cash App account between August 23, 2018 and August 20 this year, you can claim. The settlement will cover up to $2,500 in out-of-pocket costs resulting from the violations, as well as $25 to three hours of lost time per hour. Those who have suffered monetary loss and are yet to receive compensation can also file a claim in this regard.
if you plan to file a claim through you must do so by 2:00 a.m. on November 19th. The final court hearing in the case is scheduled for December 16.
