If you’ve used the Cash App to send or receive money, you may be eligible for a share of the $15 million class action settlement.
The new lawsuit settlement says the money transfer platform showed a “failure to exercise reasonable care” in working to protect customers’ personal information before the massive data breaches in 2021 and 2023 that affected an estimated 8.2 million users.
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In the 2021 case, a Cash App employee reportedly downloaded user information in the background without permission.
Other allegations in the lawsuit say that Cash App and its parent company, Block, were “negligent” and “breached other obligations to users” by mishandling customer complaints about unauthorized or fraudulent transactions made to the accounts.
Block and Cash App both deny any responsibility for the allegations.
Who is eligible for payment?
Cash App users with accounts on the platform who have had their personal information obtained without consent, or who have been victims of fraudulent activity on their account between August 23, 2018, and August 20, 2024, are eligible to submit a claim.
Those who want to file a compensation payment can submit a claim through the payment administrator’s website from now until November 18.
How much can Cash App users earn?
Those who receive compensation can receive up to $2,500, depending on their eligibility and how many people apply.
Customers can submit a claim in three different areas – out-of-pocket loss, incurred loss, and lost time.
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Those who submit an out-of-pocket loss claim can receive up to $2000, while those who submit a lost time claim can receive up to $25 for three hours, plus an unspecified amount for transaction losses.
“Block and Cash App Investing have also agreed to certain significant improvements to the security of their data,” reads the director’s notice. It does not specify what improvements are occurring.
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