If you’ve been a user of Cash App or Cash App Investing anytime since 2018, there’s crucial news you need to know. A $15 million settlement is on the table, stemming from allegations of negligence and security breaches by Block Inc., Cash App’s parent company.
The deadline to file your claim is fast approaching, with potential payouts reaching up to $2,500 per individual.
This article will walk you through everything you need to know about this settlement, including eligibility, deadlines, and the steps to claim your share.
What Led to the Cash App Settlement?
Background of the Litigation
In 2022, Block Inc. faced allegations of negligence after a former employee gained unauthorized access to user account data. This breach affected over 8.2 million users and ex-users, raising serious questions about Cash App’s security protocols.
2023 Security Breach
A second lawsuit in 2023 revealed further security lapses. Hackers reportedly accessed Cash App accounts using recycled phone numbers linked to old accounts. This led to unauthorized transactions and compromised user data, prompting more lawsuits.
Accusations Against Block Inc.
Block Inc. was accused of failing to:
- Take adequate precautions to secure user accounts
- Address customer complaints about unauthorized transactions effectively
Are You Eligible for the Settlement?
To qualify for a portion of the settlement, you must meet these criteria:
- You used Cash App or Cash App Investing between August 23, 2018, and August 20, 2024
- Your account was accessed without your consent
- Unapproved withdrawals or transfers occurred during the eligibility period
Important Deadlines
The deadline to file your claim is November 18, 2024, at 10:59 PM PT. Missing this deadline means forfeiting your share of the settlement.
How to File Your Claim
- Check Your Notification: If you received a notice via mail or email, locate your notice ID and confirmation code.
- Visit the Settlement Website: Use your details to file your claim online.
- No Notice Received? You can still file a claim by completing an online form if you believe you’re eligible.
- Documentation: Prepare supporting evidence, such as:
- Unauthorized account event notices
- Police reports for fraudulent activity
- Proof of compromised account access
Settlement Payments
Potential Payouts
Eligible users could receive:
- Up to $2,500 for documented financial losses related to security breaches
- Up to $75 for time spent resolving issues, calculated at $25/hour for a maximum of 3 hours
Required Documentation
To successfully claim compensation, you must provide:
- Notices or reports of unauthorized activity
- Transaction records showing losses tied to security incidents
| Aspect | Details |
|---|---|
| Settlement Amount | $15 Million |
| Eligibility Period | August 23, 2018 – August 20, 2024 |
| Maximum Payout | $2,500 for out-of-pocket losses |
| Lost Time Compensation | $25/hour (up to 3 hours, max $75) |
| Filing Deadline | November 18, 2024, 10:59 PM PT |
| Documentation Needed | Unauthorized event notices, police reports, proof of account compromise |
Ensuring a Successful Claim
To maximize your chances of receiving a payout:
- Double-check your eligibility criteria
- Submit clear and relevant documentation
- File your claim well before the deadline to avoid technical issues
The Cash App settlement represents an important opportunity for affected users to recover losses from past security breaches. With a $15 million fund available, eligible users stand to receive up to $2,500 for documented losses.
However, time is of the essence—the claim deadline of November 18, 2024, is fast approaching. Don’t miss your chance to secure your share.
What is the maximum payout I can receive from the Cash App settlement?
You can receive up to $2,500 for documented out-of-pocket losses and an additional $75 for time spent resolving related issues.
What documents do I need to file a claim?
You’ll need unauthorized account event notices, police reports, or proof of account compromise.
Am I eligible if I didn’t receive a notification?
Yes, you can still file a claim online if you meet the eligibility criteria.
