Key Takeaways
- Cash App customers who filed claims by Nov. 18, 2024, could receive up to $2,500 from a $15 million data-breach settlement, with payments expected to begin in October.
- Eligible current and former users affected between Aug. 23, 2018, and Aug. 20, 2024, could claim documented losses plus up to $75 for time spent addressing unauthorized transactions or fraud.
- Cash App and parent company Block denied wrongdoing, while each claimant’s final payout will depend on verified losses, valid claim volume, and settlement expenses.
Some Cash App users could finally receive settlement payments of up to $2,500 this month following a massive data breach—but only those who filed claims before the deadline two years ago qualify. Payments from the $15 million class-action settlement are expected to begin arriving in October, according to the official settlement website.
According to The New York Post, the payout covers eligible current and former Cash App customers affected between Aug. 23, 2018, and Aug. 20, 2024. Users had until Nov. 18, 2024, to submit claims for unauthorized transactions, fraudulent withdrawals, and other losses tied to the security incidents.
Claimants could seek reimbursement of up to $2,500 in documented out-of-pocket losses, including money taken through unauthorized withdrawals or transfers. They could also claim compensation for time spent dealing with the breach, capped at three hours at a rate of $25 per hour.
The final amount each person receives will depend on the losses they documented, the number of valid claims, and how much remains after attorneys’ fees and administrative costs are deducted from the settlement fund.
The lawsuit centered on an alleged 2021 breach that caused the “unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers,” according to the class-action complaint.
Block disclosed in 2022 that a former employee downloaded reports containing customer data after leaving the company. A separate security incident allegedly allowed an unauthorized user to access certain accounts through recycled phone numbers.
Cash App and its parent company, Block, Inc., agreed to the $15 million settlement in March 2024 without admitting wrongdoing or any violation of the law. Users who submitted claims should monitor the email address, mailing address, or digital payment account included in their paperwork for updates.
The payments come as Cash App faces mounting scrutiny over how it protects users and responds when their money disappears. In a separate case, Block agreed to pay $45 million to 46 states and Washington, D.C., after regulators accused the company of exaggerating Cash App’s security, mishandling fraud reports and leaving customers without adequate support.
“Cash App told people their money was safe, and millions of Oregonians and Americans believed them,” Oregon Attorney General Dan Rayfield said. “When things went wrong, Block left them with nowhere to turn.”
