Cash App user have a few days left to claim up to a $2,500 settlement payout

November 8, 2024 TH Author

Over the past several years, Cash App has suffered two different data breaches — one in which a former employee downloaded user transaction reports and another in which an unauthorized person accessed user account data.

A class action lawsuit alleges that Cash App was negligent in handling these breaches and didn’t properly address customer concerns. The company is paying a settlement to affected users — so if you suffered a financial loss, you might be eligible. The Nov. 18 deadline is only about a week away, so you’ll need to act quickly.

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The amount each user receives will depend on how many users file a claim and how much the lawyers take. However, the settlement site says you can submit a claim for up to $2,500 to reimburse losses.

Many class action members lost much more than that. According to one woman’s legal complaint, she lost $40,000 and spent hundreds of hours recovering from the breach. Other users complained about thieves taking money to buy Bitcoin, Google marketplace gift cards, items on the Roblox marketplace, stocks, and more. Some class members had funds taken all at once, while some had it taken over time on as many as 75 different occasions.

What kind of losses can users recover?

If the Cash App security breach caused you to pay for credit monitoring, request a credit report, cancel or replace a payment card, close a bank account and open a new one, or incur an overdraft or late payment fee, you can potentially have that amount reimbursed.

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You will need third-party documentation to prove these amounts, and you can also account for up to three hours of lost time at $25 an hour.

How do you know if you’re eligible?

Lawsuit documents say that anyone who was a customer of Cash App from August 23, 2018 through August 20, 2024 and who had their account information accessed without their consent or who suffered fraudulent withdrawals or fund transfers as a result of the breach is eligible to apply.

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If the Cash App data breach affected you, you can join the class action suit and submit a claim here. You have about a week left to do so.