In 2021, Cash App suffered a significant data breach that exposed the personal information of over 8 million users of Cash App Investing. This breach was reportedly caused by a former employee who improperly accessed and downloaded sensitive user data. As a result, Cash App’s parent company, Block Inc., faced a class-action lawsuit alleging inadequate protection of user information. To resolve this case, Cash App is offering a $15 million settlement, with eligible users able to claim compensation of up to $2,500. Here’s what you need to know to file a claim.
Eligibility Criteria for Filing a Claim
To be eligible for compensation under this settlement, users must meet specific conditions:
- Account Requirement: Only individuals with an active Cash App account between August 23, 2018, and August 20, 2024, are eligible. Accounts outside of this timeframe do not qualify for compensation.
- Prior Reimbursement: If you’ve already received reimbursement or compensation from Cash App, Block Inc., or any other source for the same incident, you are not eligible to file a new claim to avoid duplicate payments.
Types of Claims and Compensation
Cash App has categorized claims into three distinct types, each offering different compensation based on the nature and extent of the loss. Affected users can claim up to $2,500 depending on the impact of the breach. The three categories are as follows:
Out-of-Pocket Losses
Users who experienced direct financial losses due to the breach, such as unauthorized transactions or other related costs, can file a claim under this category. The maximum compensation for out-of-pocket losses is $2,500, depending on the proof of loss provided.
Lost Time
Cash App users who spent time dealing with the consequences of the breach can claim compensation for lost time. This includes activities like reviewing unauthorized transactions, contacting customer support, or securing their accounts. Users can claim up to three hours of lost time at $25 per hour, for a total of $75. Providing documentation or records of the time spent is essential for this claim.
Transaction Losses
Users who experienced direct financial losses not covered by out-of-pocket losses or other claims can file for reimbursement under transaction losses. Proper documentation is necessary to support these claims and ensure eligibility.
Filing a Claim for Multiple Cash App Accounts
If a user has multiple affected accounts, they should submit a single claim form that includes the user tags for each account. Each claim type associated with these accounts should be detailed on this form to ensure that all claims are addressed together.
Claim Filing Deadline
Cash App users must file their claims by November 18, 2024. Claims submitted after this deadline will not be considered, so it’s crucial to act quickly to ensure that your claim is eligible for review and compensation.
How to File a Claim: Step-by-Step Guide
To submit a claim for the Cash App settlement, follow these steps:
- Complete the Claim Form: Visit the official settlement website at cashappsecuritysettlement.com to access the claim form. Provide accurate information regarding your Cash App account(s) and the types of losses you are claiming.
- Attach Supporting Documents: For each type of claim, you will need to provide documentation. For example, if you are claiming out-of-pocket losses, you must submit proof of unauthorized transactions. If claiming lost time, document the time spent resolving issues related to the breach.
By following these steps and submitting the required documentation, you can ensure that your claim is processed and reviewed for compensation under the Cash App data breach settlement.
