Claim Your Cash: $15M Cash App Settlement - Act by Nov 18

Earlier this year, Cash App Investing and its parent company, Block Inc., agreed to settle a lawsuit for $15 million. The lawsuit alleged that the company did not exercise reasonable care in protecting user information, leading to data breaches and unauthorized charges on user accounts.

The lawsuit pointed to two major security incidents. The first breach occurred in 2021 when a former employee downloaded reports containing user information without authorization. This breach was disclosed in 2022. The second breach, disclosed in 2023, involved unauthorized access to Cash App accounts using linked phone numbers. The class-action lawsuit claimed that Cash App and Block did not implement sufficient security measures to prevent these breaches.

How to File a Claim

You can submit a compensation claim if you are a current or former Cash App user affected by unauthorized access or fraudulent withdrawals between August 23, 2018, and August 20, 2024. Here’s how:

• Submit a claim: Visit the official settlement administrator’s website and complete the claim form by November 18. Provide details about your account and the unauthorized transactions or losses you experienced
• Documentation: Gather and submit third-party documentation to support your claim. This can include records of out-of-pocket expenses, lost time, and transaction losses

Types of Compensation

Eligible users can receive different types of compensation:

• Out-of-pocket losses: Up to $2,500 will be reimbursed for expenses related to the data breach, such as credit monitoring, identity theft insurance, replacing payment cards, or dealing with bank accounts
• Lost time: Compensation of $25 per hour for up to three hours spent addressing issues caused by the breach
• Transaction losses: Reimbursement for monetary losses not already covered

The exact amount you receive will depend on the number of claims submitted and the documented losses. Payments will be proportionally reduced if the total claims exceed the settlement fund.

Other options

If you prefer not to participate in the settlement, you have several options:

• Opt-out: Exclude yourself from the settlement by November 1 if you want to retain the right to sue or join another lawsuit against Cash App and Block
• Object: Submit an objection to the settlement agreement by November 1 if you disagree with its terms
• Do nothing: If you take no action, you will not receive any settlement payment and may forfeit the right to future claims related to this case

Protecting Your Data

To minimize the risk of future breaches, follow these best practices:

• Strong passwords: Use complex passwords and update them regularly
• Multifactor authentication: Enable additional security layers whenever possible
• Vigilance: Monitor your account for suspicious activity and change passwords if you receive breach notifications
• Credit protection: Consider free credit freezes and fraud alerts from credit bureaus like Equifax, Experian, and TransUnion
• Caution with payment apps: Verify the identity of recipients before sending money through apps like Cash App, Zelle, or Venmo, and avoid clicking on unsolicited links

This settlement allows Cash App users affected by data breaches to recover some of their losses. You can potentially receive compensation by following the steps to file a claim. Remember, the deadline to submit your claim is November 18. Stay informed and take action to protect your data in the future.