Cash App Data Breach Class Action Nets 15M Settlement
Block Inc, the parent company of Cash App, has agreed to pay $15 million to settle a class action lawsuit alleging that the company failed to protect user data.
The settlement, which was approved by a federal judge on Tuesday, resolves a lawsuit that was filed in 2020 by two Cash App users who alleged that the company had failed to take adequate steps to protect their personal information.
The plaintiffs alleged that Cash App had stored users' personal information, including their names, addresses, and Social Security numbers, in plaintext on its servers. This information was allegedly accessible to employees of Cash App and third-party vendors.
Block Inc. has denied any wrongdoing, but has agreed to settle the lawsuit to avoid the costs of further litigation.
Under the terms of the settlement, eligible Cash App users can claim up to $2,500 each.
To be eligible for a payment, users must have used Cash App between January 23, 2013, and September 17, 2021, and must have had their personal information compromised as a result of the data breach.
Users can submit claims online at the following website: www.cashappsettlement.com
The deadline to file a claim is January 24, 2023.
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