In December 2021, Cash App, a popular mobile payment service, experienced a significant data breach that compromised the personal information of 8.2 million users.
This breach occurred due to unauthorized access by a former employee, who downloaded sensitive customer data without their knowledge. As a result, Cash App was involved in a class-action lawsuit filed by the affected individuals.
If you missed the November 18, 2024 deadline to file a claim for compensation, you may be wondering what your options are moving forward.
While the $15 million settlement deadline has passed, there are still actions you can take to protect yourself and possibly recover some of your losses.
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What Was the Cash App Settlement About?
The settlement was established to compensate Cash App users who were affected by the 2021 data breach. The class-action lawsuit accused Cash App Investing and its parent company Block Inc. of failing to adequately secure customer information.
As a result, personally identifiable information (PII) was exposed without user consent.
Here’s a quick breakdown of the settlement details:
| Settlement Detail | Information |
|---|---|
| Total Settlement Amount | $15 million |
| Eligible Compensation | Up to $2,500 per eligible claimant |
| Deadline to File a Claim | November 18, 2024 |
| Claim Categories | Out-of-pocket losses, lost time, transaction losses |
| Affected Users | Cash App users with data breach-related losses |
Who Was Eligible for the Settlement?
To qualify for the $15 million settlement, users had to meet the following criteria:
- Cash App Account Holder: Had an active Cash App account between August 23, 2018 and August 20, 2024.
- Experienced Losses: Had unauthorized transactions, out-of-pocket losses, or transaction losses due to the breach.
- No Prior Reimbursement: Must not have already been reimbursed by Cash App, Block Inc., or any third-party providers.
If you met these conditions, you were eligible to submit a claim for up to $2,500.
What Claims Could Cash App Users File?
The settlement allowed claims to be submitted under three main categories:
| Claim Category | Details | Potential Compensation |
|---|---|---|
| Out-of-Pocket Losses | Claims for expenses directly linked to the breach, such as fraudulent transactions or unauthorized withdrawals. | Up to $2,500 |
| Lost Time | Compensation for time spent dealing with the breach, reimbursed at a rate of $25 per hour for up to three hours. | Up to $75 |
| Transaction Losses | Losses due to fraudulent transactions that weren’t reimbursed by Cash App or a third party. | Reimbursement of monetary losses |
What Should You Do if You Missed the Deadline?
If you missed the November 18, 2024 deadline for filing a claim, there are still steps you can take:
1. Contact the Law Firm Representing Plaintiffs
Reach out to Kantrowitz, Goldhamer & Graifman, the law firm representing the plaintiffs in the class action. They may have additional guidance or provide updates on the next steps for users who missed the deadline. You can contact them at 201-897-7293 or visit their website at kgglaw.com for more information.
2. Monitor Your Cash App Account
Keep an eye on any unauthorized activities on your Cash App account. If you notice any fraudulent transactions, report them immediately to Cash App customer support. Although you missed the settlement deadline, it’s crucial to stay proactive in protecting your financial security.
3. Seek Legal Advice
If you believe you suffered significant financial losses due to the breach and missed the claim deadline, consider consulting a legal professional. An attorney may help explore potential avenues for recovery, whether through other lawsuits or legal channels.
If you missed the Cash App $15 million settlement deadline, don’t worry—there are still actions you can take to safeguard your account and potentially recover losses.
Contacting the law firm or seeking legal advice might be the best course of action. Additionally, be sure to stay vigilant and protect your Cash App account from future breaches.
While the deadline has passed, this issue may not be over, and keeping informed could be crucial in securing your financial well-being.
FAQ’S
Can I still file a claim if I missed the deadline?
While the settlement deadline has passed, you can reach out to the law firm involved in the case for guidance and check if any options are still available for claims.
How can I protect myself from future data breaches on Cash App?
Enable Two-Factor Authentication (2FA), monitor your account regularly, and update your password frequently to increase your account security.
How much compensation could I have received?
Eligible users could have received up to $2,500 depending on the nature of the loss, such as unauthorized withdrawals or lost time due to the breach.
