Cash App users affected by the December 2021 data and security breach have a limited time to submit a claim for reimbursement. The deadline to file a claim is November 18, 2024. The settlement offers compensation for out-of-pocket expenses, lost time, and unreimbursed monetary losses.
The mobile payment service has been ordered to pay $15 million in damages following a lawsuit. The plaintiffs argued that Cash App Investing failed to protect consumer information, impacting around 8.2 million current and former customers. Affected users could receive reimbursement if they meet the eligibility criteria.
A former employee accessed and downloaded Cash App users’ personal information without their knowledge, according to the lawsuit. This unauthorized action has raised concerns about user privacy and data security. The breach compromised information such as brokerage account numbers and, in some cases, details like portfolio value, holdings, and stock trading activity for a single day.
To qualify for submitting a claim, users must have held an account between August 23, 2018, and August 20, 2024. Those already reimbursed by Block Inc., Cash App Investing, or a third party are not eligible. Users can file claims for out-of-pocket losses, lost time (up to three hours at $25 per hour), and unreimbursed transaction losses.
Cash App settlement claim deadline approaching
To file a claim, users should visit the settlement website by 2 AM ET on November 19. A judge will decide whether to accept the settlement terms on December 19.
If not approved, there may be a longer wait for payment, potentially resulting in a larger amount. Cash App customers in New York who experienced unauthorized access to their accounts have less than two weeks to submit a claim. The lawsuit alleged that Cash App didn’t adequately safeguard consumer information after the December 2021 data breach, which affected 8.2 million customers.
A second data breach in 2023 led to more unauthorized access. Eligible claimants can receive benefits such as reimbursement for out-of-pocket losses, compensation for time spent (up to $2,500 for three hours at $25 per hour), and documented transaction losses. To submit a claim, affected users can visit the appropriate settlement claim website.
Many class action members reported losing much more than the claim limit, with some claiming losses of $40,000 and spending hundreds of hours recovering from the breach. Thieves used stolen funds to purchase Bitcoin, gift cards, items on the Roblox marketplace, stocks, and more. The losses varied, with some users having funds taken all at once and others experiencing gradual theft over multiple transactions.
If the security breach caused you to incur expenses like credit monitoring services, requesting a credit report, canceling or replacing a payment card, closing and opening bank accounts, or incurring overdraft or late payment fees, you may be eligible for reimbursement with proper documentation. Don’t miss the opportunity to recover your losses by filing a claim before the November 18, 2024 deadline.
