Cash App Data Breach: What Users Need to Know
If you’re an iOS user who had a Cash App account between August 2018 and August 2024, you may be eligible for compensation due to a data breach.
If you wish to take advantage of this settlement opportunity, you’ll need to act quickly.
Overview of the Data Breach
The Cash App, owned by Block (formerly Square), disclosed a security breach in 2022 that affected over 8.2 million users.
Here’s what you need to know:
Potential Data Compromised: According to a report, information such as full names, brokerage account numbers, brokerage portfolio value, holdings, and one trading day of stock trading activity were potentially accessed by a former employee.
Notification and Timing: The company, through TechCrunch, notified the approximate 8.2 million users about this breach.
Company’s Resolution and Settlement
As a response to a class action lawsuit, Block agreed to compensate users affected by the breach. They didn’t admit liability but agreed to provide compensation for costs and time spent dealing with the issue.
Deadline for Claims: If you are eligible and wish to file a claim, you must do so by 2AM ET on November 19, 2023.
What You Stand to Gain
Eligibility for Compensation: You may be eligible to claim up to $2,575 if you had a Cash App account between August 23, 2018, and August 20, 2023.
Outputs Covered: The settlement will cover up to $2,500 of out-of-pocket costs and up to $90 if you had to spend three hours on this due to lost time. Monetary losses not yet reimbursed are also claimable.
Filing Your Claim
If you decide to file a claim, you’ll need to visit the claim submission site to do so, ensuring your application is done by the deadline. A judge’s decision on the settlement arrangement won’t come until December 19, 2023.
Take Action
Don’t Let This Opportunity Pass You By!
If you’re one of the millions affected and haven’t already, be sure to act promptly and file your claim to ensure you receive your rightful compensation.
Don’t miss out. Secure your funds before the filing deadline passes.
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By Mariia Shalabaieva on Unsplash.
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