Deadline Looms for Cash App Users to Claim $15 Million Settlement

Time is ticking for Cash App users hoping to snag a slice of the $15 million class-action settlement pie. With just two days left to file a claim (10:59:59 p.m. PT on Monday, Nov. 18, 2024, is the last day), eligible individuals could receive as much as $2,500—assuming they act quickly and meet the criteria of the claim.

This settlement stems from allegations of negligence against Cash App and its parent company, Block, Inc.

The accusations?

A double whammy of security breaches.

First, a former employee reportedly downloaded sensitive data from Cash App Investing in 2021, affecting a staggering 8.2 million customers. Reported by Cash App in a filing with the US Securities and Exchange Commission (SEC) saying:

"We determined that a former employee downloaded certain reports of our subsidiary Cash App Investing in December 2021 that contained some US customer information without permission after the former employee’s employment ended."

Then, in 2023, users reported unauthorized account access, some tied to recycled phone numbers linked to existing accounts.

In a class-action lawsuit against Cash App Investing and Block Inc. by Plaintiffs it revealed that the two companies failed to “exercise reasonable care in securing and safeguarding consumer information." 

Cash App and Block, unsurprisingly, deny any wrongdoing, but the class-action lawsuit paints a less-than-flattering picture of their security measures. Terms like "negligent security features" and "poor protocol" pop up in legal filings.

While the companies may contest these claims, the settlement offers users a tangible opportunity to recover losses—if they act by the November 18 deadline for the lawsuit filed after December 2021.

But wait,

How to file a claim in the $15 million settlement?

Filing a claim isn’t rocket science but does require some diligence.

Eligible users must have had an active Cash App or Cash App Investing account between August 23, 2018, and August 20, 2024, and must provide documentation for any losses incurred.

Think bank statements, police reports, or correspondence with Cash App.

For those who can prove out-of-pocket losses, the payout could go up to $2,500.

Reimbursement for lost time is also on the table—$25 per hour for up to three hours, to be precise.

The final approval hearing for the settlement is set for December 16, 2024, and payments will follow if the agreement gets the green light.

• But let’s be real: legal gears turn slowly, so don’t bank on immediate cash flow.

For now, the clock is ticking and going fast (really).

If you’ve had unauthorized transactions, account breaches, or even just a frustrating error resolution experience with Cash App in the past six years, now’s the time to act.

The official settlement site, cashappsecuritysettlement.com, awaits your claim submission.

The whole ordeal serves as a reminder of the ongoing vulnerabilities in digital financial systems.

While Cash App continues to be a popular payment platform, these incidents underline the need for stronger safeguards.

As digital wallets become the norm, one can only hope for better protection against breaches—because who has time to keep chasing settlements?

So, Cash App users, consider this your final wake-up call.

If you have more than 1 claim, you can list all accounts and attach the supporting documents for sending by mail.

Here's the address:

• Cash App Settlement
• Attn: Claim Form Submissions
• 1650 Arch Street, Suite 2210
• Philadelphia, PA 19103

If you’ve got a claim to make, don’t let Monday’s deadline slip by.

After all, free money (even in settlement form) doesn’t come around often.