Cash App is a digital wallet service for American consumers launched by Block, Inc. in 2013. This app allows users to send, receive, or save money, access a debit card, invest in stocks or bitcoin, and even apply for personal loans and file taxes. Previously known as Square, the Cash App, owned by Block, disclosed a series of data affecting 8.2 million users in the United States. Now, the company itself is offering the possibility of compensation to these victims in response to a lawsuit filed against it. However, Block did not admit to any responsibility but agreed to provide compensation to victims for the expenses and time spent on this matter.
This data breach was carried out by a former Cash App employee: now the company offers compensation
Cash App has reported that the information was revealed by a former employee who had been out of the company for months, involving American clients. It is important to note that Cash App is one of the most popular applications for iOS and a competitor to Apple’s Cash service.
According to TechCrunch, Cash App has sent notifications to about 8.2 million users regarding this data breach. The revelation includes possibly full names and brokerage account numbers (the contract between client and company). In some cases, access was gained to the value of brokerage portfolios, holdings, and stock trading activities.
How to file a claim against Cash App
If you are one of the affected individuals, you still have time to claim up to $2,500, according to Engadget. Therefore, if you had a Cash App account between August 23, 2018, and August 20, 2024, you can file your claim before November 18, 2024, at 10:59:59 PM Pacific Time.
To process this claim, you can visit the claims website. Once you have submitted your claim, you will have to wait until December 19 to see if it has been accepted by a judge or not.
