Introduction
Hey Scam Warriors! Here’s everything you need to know about the Cash App data breach settlement, who qualifies, and how to claim your share. In recent years, data breaches have become an all-too-common occurrence, leaving consumers vulnerable to identity theft and financial loss. One such incident involves the popular financial services platform Cash App, which experienced significant data breaches in 2022 and 2023. If you were affected by these breaches, you might be eligible for compensation from a newly announced $15 million settlement.
Background on the Cash App Data Breaches
Cash App, known for allowing users to transfer money, pay vendors, and invest, suffered two major data breaches. The first breach in 2022 involved an employee’s unauthorized access to Cash App Investing accounts. The second breach in 2023 was due to a third party’s unauthorized access using recycled phone numbers. These breaches compromised the personal and account information of many Cash App customers, leading to unauthorized transactions and financial losses.
Apart from data breaches Cash App users are also suffering from Cash App Scams. Check Out our dedicated article on cash app scams to better protect yourself.
The Settlement
Cash App has not admitted any wrongdoing but has agreed to a $15 million settlement to resolve the class action lawsuit. The settlement aims to compensate those affected by the data breaches, covering documented losses such as credit costs, bank fees, travel expenses, and lost time.
Eligibility for the Settlement
Current and former Cash App customers whose account and personal information were compromised between August 23, 2018, and August 20, 2024, are eligible for the settlement. This includes customers who experienced fraudulent withdrawals or transfers during this period.
Potential Award
Eligible class members can receive up to $2,500 for documented losses related to the data breaches. This includes compensation for credit costs, bank fees, travel expenses, and up to three hours of lost time at a rate of $25 per hour. Additionally, class members who suffered fraudulent transactions due to the data breaches can receive further compensation if they provide sufficient documentation.
How to File a Claim
To receive benefits from the Cash App settlement, class members must submit a valid claim form by November 18, 2024. The claim form requires detailed documentation of data breach-related losses, including receipts, bills, invoices, account statements, credit reports, financial documents, police reports, and other relevant proof.
The claim form can be accessed and submitted online through the settlement website, CashAppSecuritySettlement.com.
Important Deadlines
- Claim Form Deadline: November 18, 2024
- Exclusion and Objection Deadline: November 1, 2024
- Final Approval Hearing: December 16, 2024
Class Action Details
- Case Name: Salinas, et al. v. Block Inc., et al.
- Case Number: 3:22-cv-04823-AMO
- Court: U.S. District Court for the Northern District of California
Contact Information
If you have questions or need assistance with your claim, you can contact the Claims Administrator:
Cash App Security Settlement Administrator
1650 Arch Street, Suite 2210
Philadelphia, PA 19103
Phone: 866-615-9740
Class Counsel
- David A. Goodwin
- GUSTAFSON GLUEK PLLC
- Nicholas A. Migliaccio
- Jason S. Rathod
- MIGLIACCIO & RATHOD LLP
Avoiding Fraudulent Claims
It is crucial to note that you should not file a claim if you do not qualify for this settlement. Submitting a fraudulent claim can harm other eligible class members and is subject to penalty of perjury. Ensure you meet all eligibility requirements by reviewing the FAQ section on the Settlement Administrator’s website.
Conclusion
The Cash App data breach settlement offers a significant opportunity for affected consumers to recoup their losses and move forward. By following the outlined steps and meeting the necessary deadlines, eligible class members can claim their share of the $15 million settlement. If you were impacted by the Cash App data breaches, act now to ensure you receive the compensation you deserve.
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