Cash App users who filed claims two years ago seeking payouts for a 2021 data and security breach may soon begin getting those payments from a $15 million settlement.
In August 2024, the mobile payment service agreed to pay $15 million in damages after a December 2021 breach. The breach resulted in the "unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers,” according to the class-action lawsuit filed in 2022.
Cash App, its parent company Block and the plaintiffs who filed the lawsuit agreed to the settlement in March 2024. Neither Block nor Cash App admitted to any violations of the law.
Settlement payments for those who filed claims before the Nov. 18, 2024, deadline
are expected to begin going out this month, according to the settlement website.
Who is eligible for a payment in the Cash App settlement?
Cash App users who had unauthorized or fraudulent withdrawals or transfers from their account between Aug. 23, 2018, and Aug. 20, 2024, were eligible to file claims, according to the settlement website.
Cash App users could seek reimbursement for out-of-pocket losses of up to $2,500, including monetary losses from transactions and lost time (up to three hours at a rate of $25 an hour for time spent on the data breach).
The deadline to file a claim was Nov. 18, 2024.
What is Cash App?
Cash App has a Cash App debit card you can use to make purchases and ATM withdrawals." id="92158939007">
Mobile financial platform Cash App, launched in 2013, works like a "digital wallet," allowing you to send and receive money, invest in Bitcoin and stocks, apply for loans and file taxes. Although it is not a bank, Cash App offers an interest-earning savings account and a Cash App debit card you can use to make purchases and ATM withdrawals.
Contributing: Greta Cross and Ahjané Forbes.
Mike Snider is a national trending news reporter for USA TODAY. You can follow him on Threads, Bluesky, X and email him at mikegsnider & @mikegsnider.bsky.social & @mikesnider & msnider@usatoday.com.
This article originally appeared on USA TODAY: Check your mail! Cash App $15M settlement payments are on the way
