Cash App, used by many consumers to transfer money, has agreed to a $15 million data breach settlement. Unlike most settlements where victims get very little, affected Cash App customers are in line to receive up to $2,500 in compensation.
In 2022, Cash App disclosed a data breach that occurred in 2021. That prompted a class-action lawsuit, with plaintiffs claiming Cash App and its parent company, Block, failed to establish controls that would have prevented unauthorized access to customers’ data. The suit further claimed Cash App was unresponsive to complaints about overall security.
Cash App users whose accounts were accessed without their authorization or who had fraudulent withdrawals or transfers are eligible for compensation of up to $2,500. They are eligible if they had an account between August 23, 2018, and August 20, 2024.
Plaintiffs filed a notice of a proposed settlement in the case, Salinas, et al. v. Block, Inc. and Cash App Investing, LLC, in the District Court for the Northern District of California. It is up to the court to decide whether to approve it.
In the meantime, plaintiffs’ attorneys urge affected Cash App users to file a claim. The deadline for filing a claim is Nov. 18, with the final approval hearing set for Dec. 16. You can start the claims process here.