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Cash App has agreed to a $15 million settlement in response to claims of insufficient data security. This settlement provides eligible users the chance to receive up to $2,500 each as compensation.
The lawsuit pertains to data breaches that allegedly took place between 2022 and 2023. The 2022 breach reportedly involved unauthorized access to Cash App Investing accounts by an employee, while the 2023 breach involved third-party access through recycled phone numbers. Despite Cash App's denial of wrongdoing, the company has decided to compensate the affected users. If you're a U.S.-based Cash App user, here’s what you need to do to claim your payout.
Who qualifies for the Cash App data breach settlement?
To be eligible for the settlement, individuals must fulfill certain conditions:
1. Be an existing or past user of Cash App
2. Have had personal data exposed without consent, and/or...
3. Have experienced unauthorized transactions between Aug. 23, 2018, and Aug. 20, 2024.
Steps to claim your portion of the Cash App settlement
Eligible claimants can file their applications through the official settlement site. Those who have a Notice ID and Confirmation Code should ensure they have this information on hand. However, individuals without these details are still able to apply.
Supporting materials such as receipts, credit card statements, or police reports might be necessary to verify claims of involvement in and impact from the data breaches.
The deadline for submitting claims is November 18, 2024. Anyone wishing to opt out of the settlement must submit their objections by November 1, 2024. The final court hearing is set for December 16, 2024, after which payments will be made unless unforeseen complications arise.
Keep in mind: You are submitting your claim under penalty of perjury. If you are not eligible for the settlement, do not file a claim. Submitting a fraudulent claim will negatively affect those who are genuinely eligible for compensation from the class-action suit.
Compensation amounts will differ depending on individual circumstances and the extent to which the breach impacted each claimant. This settlement has the potential to affect a large number of individuals.
If you're looking to participate or need further details, the best way to stay on track with all required procedures and deadlines is to visit the official settlement website.
