Block Inc., the company, behind the payment platform Cash App has recently agreed to a $15 million settlement to address issues stemming from a series of data breaches. These breaches, which took place from August 23 2018 to August 20 2024 resulted in the exposure of details belonging to Cash App users.
As per the settlement website Block Inc. Faced allegations of negligence and failure to enforce security protocols to prevent access to user accounts. In 2022 8.2 million Cash App users were informed that a former employee had retrieved investment reports containing sensitive information, like full names, brokerage account numbers, portfolio values and stock trading data. Subsequently in the year an unauthorized individual managed to access Cash App details through phone numbers associated with previously compromised accounts.
Eligibility and Compensation
To qualify for the settlement individuals must have used either Cash App or Cash App Investing. Had their information accessed without authorization or experienced fraudulent transactions from their accounts within the specified timeframe. Those affected can file a claim to recover, up to $2,500 in out of pocket losses provided they can provide supporting documents. Additionally claimants may request compensation for up to three hours of lost work at a rate of $25 per hour.
The deadline for submitting a claim is November 18 with instructions on documentation and the claims process available, on the settlement website. While Block Inc. And Cash App Investing deny any wrongdoing or liability they have agreed to settle to address the claims. Eligible Cash App users should keep themselves informed about their rights and what steps are required to participate in the settlement as the case progresses.
