Cash App users impacted by data breaches can now file claims for compensation as part of a $15 million settlement. Eligible users can receive up to $2500 for issues stemming from these breaches, with the claim period open until November 18, 2024. This settlement is a response to security lapses that exposed sensitive information of millions of users.
The Cash App Data Breach and Settlement Overview
In 2021, a former employee of Cash App, while downloading a report from its subsidiary Cash App Investing, inadvertently exposed the personal data of many U.S. customers. This breach, which affected millions, was followed by a second security issue where customer accounts were accessed without authorization and fraudulent transactions occurred. As a result, Cash App has agreed to a $15 million settlement, providing financial relief to affected users.
The legal settlement provides compensation for those who have experienced unauthorized account access, fraudulent transactions, or other data breach-related problems with Cash App.
Eligibility for Cash App Settlement
To qualify for the Cash App settlement, individuals must meet specific criteria. Users whose Cash App accounts were hacked or whose wallets were involved in unauthorized transactions between August 13, 2018, and August 20, 2024, are eligible for compensation.
This legal settlement aims to assist those who have suffered due to the data breach by reimbursing their losses and addressing the issues caused by these security lapses. Claims must be submitted by November 18, 2024, to be considered.
How to File a Claim
Filing a claim for the Cash App security settlement is straightforward. To begin, users can complete the claim form on the official website, cashappsecuritysettlement.com. Alternatively, claims can be mailed to the address provided by the settlement administrators or submitted by calling the designated helpline.
Compensation for Affected Users
Affected users can receive compensation based on the nature of the impact. Some users may be eligible for up to $2500, depending on the severity of their financial loss due to fraudulent activity or unauthorized access. Additionally, those who experienced specific issues, such as spending time resolving fraud-related problems, may receive compensation at a rate of up to $25 per hour.
The settlement also allows individuals who faced larger financial losses due to fraudulent activities to recover the amount of their entire property.
Key Settlement Details
- Total Settlement Amount: $15 million
- Maximum Compensation: Up to $2500 per eligible user
- Claim Deadline: November 18, 2024
- Official Website: cashappsecuritysettlement.com
If you have faced security issues with Cash App, ensure that you file your claim before the deadline to receive compensation for your troubles caused by these data breaches.
