Do you have a Cash App account that’s been recently compromised? You may be eligible for a lawsuit settlement payout of up to $2,500 if you had/have an active Cash App account from August 23, 2018, through August 20, 2024, and one of the following holds true for you: you either had unauthorized or fraudulent transactions on it within those dates, or your Cash App account was accessed without your authorization.
Why is there a lawsuit?
According to the settlement site, the class action started when a former company employee accessed data from certain Cash App accounts in 2022. Then, in 2023, an unauthorized user managed to access some Cash App accounts using the numbers linked to those. Cash App and its parent company, Block, also faced allegations of being negligent in their security-related obligations to users and failing to put in place appropriate measures to control fraud.
To make matters worse, the suit claims that Cash App undermined several user complaints and failed to resolve them. It also refused to take responsibility for any problems that it caused but has agreed to a settlement. A detailed version of the complaint can be found here.
How do I know if I’m eligible?
You’re eligible for a payout if you had/have a Cash App or a Cash App investing account between August 23, 2018, and August 20, 2024, and one of the following holds true for you: your account was accessed without your authorization, or you had a fraudulent withdrawal or transfer on it.
How much am I eligible for?
Cash App and Block have agreed to a $15 million settlement fund. The amount will first be used to pay off lawyer fees and related costs. After the deduction, it will be equally divided among class members. The exact amount you end up receiving depends on the number of victims who file a claim, but you can file for up to $2,500.
You can also fill the time you lost in trying to resolve the fraudulent activities you encountered. That’s $25 an hour for up to three hours. If the settlement fund runs out, you will be paid a reduced amount on a pro-rata basis.
How do I file a claim?
You can file an online claim here, along with appropriate proof of your complaints. 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, though. The deadline to submit a claim is November 18, 2024.
Here is additional information on filing claims, the class representatives (the lawyers representing you), and excluding yourself from the claim.
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