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cash app has agreed to a $15 million class-action settlement.

Cash App Settlement Class Action Lawsuit 2024

attorney, January 12, 2025January 12, 2025

In November 2024, the deadline for filing claims in the Cash App class action settlement officially passed. This settlement stemmed from a December 2021 data breach that compromised the personal information of millions of users. If you missed the cutoff, you may still have lingering questions about the breach, the settlement process, and what steps to take moving forward.

Contents

  • 1 Overview of the Cash App Data Breach
  • 2 Key Settlement Information
  • 3 Eligible Claims Categories
  • 4 How to Check if You Were Impacted
  • 5 Missed the Deadline? Here’s What to Do
  • 6 Tips for Protecting Against Future Breaches
  • 7 Conclusion

Overview of the Cash App Data Breach

The data breach involving Cash App occurred in December 2021, when unauthorized access to sensitive user data was made public. The breach, according to the lawsuit, was caused by a former employee who unlawfully accessed and downloaded user information.

This incident affected approximately 8.2 million Cash App Investing customers, exposing a range of personal and financial details.

Key Settlement Information

  • Settlement Amount: $15 million
  • Claim Deadline: November 18, 2024
  • Eligibility Period: August 23, 2018, to August 20, 2024
  • Potential Payouts: Affected users may be eligible for up to $2,500, based on their financial losses.

Eligible Claims Categories

Cash App users were eligible to file claims under these categories:

  1. Out-of-Pocket Expenses
    Users who incurred direct financial losses due to the breach could submit evidence to claim up to $2,500.
  2. Time Spent Resolving Issues
    Users who invested time in dealing with breach-related issues were eligible for compensation of up to three hours at a rate of $25 per hour.
  3. Losses from Unauthorized Transactions
    Users who suffered financial losses from unauthorized transactions, not reimbursed, could file claims for those amounts.

How to Check if You Were Impacted

Cash App users were advised to review their transaction history for any unauthorized activity between August 23, 2018, and August 20, 2024.

Missed the Deadline? Here’s What to Do

If you failed to submit a claim by the November 18, 2024 deadline, your options may be limited. However, you can still contact the law firm handling the case for further guidance:

Kantrowitz, Goldhamer & Graifman
Phone: 201-897-7293
Website: kgglaw.com

Though you may no longer be eligible for a payout, they can help clarify your rights and advise on potential next steps.

Tips for Protecting Against Future Breaches

To secure your account and reduce the risk of future breaches:

  • Enable Two-Factor Authentication: Enhance your account security with two-factor authentication.
  • Monitor Your Transactions: Regularly check your transaction history for any suspicious activity.
  • Update Your Passwords Frequently: Use strong, unique passwords for all financial accounts.

Conclusion

The Cash App settlement serves as a reminder of the importance of safeguarding personal data in the digital age. Although the deadline for claims has passed, it’s crucial to stay informed about your rights and take steps to protect your financial information from future breaches.

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