Class-action lawsuit: Cash App users can submit settlement claims for up to $2,500

Cash App was ordered to pay $15 million to app users who faced a security breach resulting in the release of millions of user's personal data.

The breach occurred when one former Cash App employee downloaded the personal information of users without their knowledge.

The December 2021 data breach resulted “in the unauthorized public release of the personally identifiable information of 8.2 million current and former Cash App Investing customers,” the lawsuit noted.

Plaintiffs sued Cash App Investing and Block, claiming the companies failed "to exercise reasonable care in securing and safeguarding consumer information."

Now users are eligible to receive up to $2,500 for unauthorized or fraudulent activity on their Cash App accounts between Aug. 23, 2018, and Aug. 20, 2024. Users who have already been reimbursed by Block, Cash App Investing, or a third party do not qualify.

Users can submit a claim for out-of-pocket losses, lost time, and transaction losses.

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For lost time, a user can submit a claim for up to three hours at a rate of $25 per hour for time spent dealing with the data breach. With out-of-pocket losses, a user must show that his or her account was involved in the data breach, and with a transaction loss, a user must show he or she lost money and has not been reimbursed.

Users should only submit one claim, and if they have multiple accounts, they should list it on a single form. Users have until Nov. 18, 2024, to submit their claims.