Cash App users affected by security breaches, unauthorized transactions, or financial losses between August 23, 2018, and August 20, 2024, may be eligible for compensation under a $15 million legal settlement. This settlement comes after a class-action lawsuit against Block Inc., the parent company of Cash App, for failing to protect user data.
Eligible users can receive up to $2,500 for documented losses and up to $75 for lost time. The claim submission deadline is November 18, 2024.
In this guide, we’ll explain the eligibility criteria, claim process, and payout details to help you secure your compensation.
Why is There a $15 Million Cash App Settlement?
The settlement follows a lawsuit alleging that Cash App failed to adequately protect user data, leading to major security breaches in 2022 and 2023:
- 2022 Data Breach: A former employee accessed sensitive user information without authorization.
- 2023 Security Issue: Recycled phone numbers linked to old Cash App accounts were exploited by hackers.
Although Cash App and Block Inc. denied any wrongdoing, they have agreed to compensate affected users through this settlement.
Who is Eligible to File a Claim?
You can submit a claim if you:
- Used Cash App or Cash App Investing between August 23, 2018, and August 20, 2024.
- Experienced unauthorized transactions, fraud, or data breaches.
- Had inadequate issue resolution from Cash App.
- Were affected by compromised personal information.
Only one claim per person is allowed, even if you have multiple Cash App accounts. When filing, list all your associated $Cashtags.
How to File a Claim for the Cash App Settlement
There are two ways to file your claim:
1. Online Submission (Recommended)
- Visit CashAppSecuritySettlement.com.
- Fill in your details and attach required documents.
- Submit your claim before November 18, 2024.
2. Mail Submission
- Download the claim form from the settlement website.
- Fill it out and mail it to the address mentioned on the form.
- You can also call 1-866-615-9740 to request a form by mail.
The deadline to submit your claim is November 18, 2024.
If you want to opt out or object to the settlement, the deadline is November 1, 2024.
How Much Money Can You Claim?
Compensation is divided into three categories:
1. Out-of-Pocket Losses (Up to $2,500)
Covers expenses like:
- Fraudulent withdrawals or unauthorized transactions.
- Identity theft protection and credit monitoring services.
- Costs for replacing bank cards or closing accounts.
Proof Required: Transaction statements, receipts, or fraud reports.
2. Lost Time Compensation ($25/hour, Up to 3 Hours = $75 Max)
- If you spent time fixing Cash App security issues, you can claim $25 per hour for up to three hours ($75 max).
- Proof Required: Timeline and description of time spent.
3. Reimbursement for Unauthorized Transactions
- You can claim back lost money due to fraud.
- Proof Required: Bank statements, police reports, or support tickets.
What Happens After Filing a Claim?
Final Court Approval Hearing: December 16, 2024
- A U.S. District Court in California will review the settlement.
- If approved, payouts will begin after the hearing.
- The timing depends on the number of valid claims filed.
FAQs
1. How much money can I receive?
- Up to $2,500 for documented losses.
- Up to $75 for lost time.
2. What is the deadline to file a claim?
The final deadline to submit a claim is November 18, 2024.
3. Do I need proof to claim compensation?
Yes. Documents like bank statements, receipts, and fraud reports are required.
4. How do I file my claim?
- Online: CashAppSecuritySettlement.com
- By Mail: Download the claim form and send it to the provided address.
5. What happens if I don’t file a claim?
You won’t receive compensation and will lose your right to sue for damages.
Final Thoughts
If you faced fraudulent transactions, data breaches, or poor security on Cash App, you may be eligible for part of the $15 million legal settlement. To claim up to $2,500, ensure you submit your claim before the November 18, 2024, deadline.
For more details and to file a claim, visit CashAppSecuritySettlement.com today.
As a finance news writer at sirfal.com, I specialize in breaking down complex economic trends, market updates, and investment strategies into clear, actionable insights. My mission is to empower readers with the knowledge needed to make informed financial decisions. Thank you for engaging with my articles; I hope they add value to your financial journey.