In 2021 and 2023, Cash App fell victim to two separate data breaches. In one incident, a former employee downloaded user transaction reports, while in another breach, an unauthorized individual gained access to user account data.
A recent class action lawsuit alleges that Cash App was negligent in handling these breaches and failed to adequately address customer concerns. As a result, the company is now offering a settlement to affected users. If you suffered financial losses, you may be eligible to claim compensation.
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The amount each user receives will vary based on the number of claims filed and legal fees. Nonetheless, the settlement portal allows users to file a claim for up to $2,500 to cover losses.
Many class action members reported losses exceeding this amount. According to one woman’s legal complaint, she lost $40,000 and dedicated hundreds of hours to recovering from the breach. Other users highlighted incidents where thieves stole funds to purchase Bitcoin, Google Marketplace gift cards, items on the Roblox marketplace, stocks, and more. Funds were taken in varying frequencies, with some users losing money in a single instance and others experiencing multiple fraudulent transactions.
What Losses Can Users Recover?
If the Cash App security breach led to expenses such as credit monitoring, credit report requests, payment card replacements, bank account closures, overdraft fees, or late payment charges, you may be entitled to reimbursement. Supporting documentation is essential to validate these costs, and users can also claim up to three hours of lost time at $25 per hour.
How to Determine Eligibility
According to lawsuit documents, individuals who were Cash App customers between August 23, 2018, and August 20, 2024, and had their account information compromised without consent or experienced fraudulent withdrawals or transfers following the breach are eligible to seek compensation.
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If you were impacted by the Cash App data breach, you can participate in the class action lawsuit and submit a claim here.