Cash App users whose accounts were recently compromised have less than a week to file a claim and receive up to $2,500 in a lawsuit settlement payout. The deadline to file is November 18, 2024, and you’re eligible for the payout if both of these hold true for you: you had a functional Cash App account between August 23, 2018 and the notice date, August 20, 2024, and you either experienced a fraudulent transaction on your account or your account was accessed without your authorization.
Cash App’s $15 million settlement is the result of a data breach the company suffered a few years ago. The settlement site explains that the class action began when a former company employee unlawfully accessed data from specific Cash App accounts in 2022. A year later, an unauthorized user also managed to hack into certain accounts, apparently using the phone numbers linked to them. This happened around the same time Cash App’s parent company, Block, was facing allegations for not taking its security-related obligations seriously and not having appropriate fraud-control measures in place.
Cash App worsened the data breach situation by being negligent about user complaints and failing to take responsibility for any issues that its lack of security led to, according to the lawsuit.
You can file an online claim and reserve a part of this multimillion-dollar settlement. The payout amount will first have legal and related costs deducted from it, and the rest will equally be split between claimants. The exact amount you’d receive is dependent on how many people file a claim, with the maximum payout amount being $2,500. If there aren’t enough funds in the net settlement amount to fully compensate each approved claim, you will be paid a lower amount based on your share of the total amount claimed.
To file a claim, fill out this form and supplement it with appropriate proof of your complaint. You can also call 1-866-615-9740 to file a claim or write to Cash App Settlement Administrator, 1650 Arch Street, Suite 2210, Philadelphia, PA 19103. The fastest way to do it would be online. You can also file for the time you lost in trying to resolve the fraudulent activities you encountered at $25 an hour for up to three hours.
If you don’t want to participate, you can simply do nothing. But if you wanted to exclude yourself from the settlement or object to it, unfortunately, that deadline passed on November 1.
Read the full article here
