ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

Are you a Cash App user? You might be eligible for $2,500 payout — just watch out for the deadline

The reimbursements are part of a settlement for two separate data breach incidents in 2021 and 2023.
PUBLISHED OCT 25, 2024
Representational stock photo of a man using a mobile payment app similar to Cash App | (Cover image source: Getty Images | morsaimages)
Representational stock photo of a man using a mobile payment app similar to Cash App | (Cover image source: Getty Images | morsaimages)

Services such as e-banking and online payments have made everyday life easier for people, but digitization at such a pace has also exposed them to data leaks. Following two such data and security breach incidents, users of Cash App are eligible for up to $2,500 in reimbursements, but they need to hurry up as the deadline is getting closer. Earlier this year, the mobile payment service was ordered to pay $15 million in damages to its users as a part of the settlement in the case. Eligible users only have a few weeks now to get their share of the money.

 A view of the venue during the Afterpay, Cash App & TIDAL Front Row To NYFW Party (Image source: Anna Webber/Getty Images for Afterpay)
Stock image displaying the Cash App logo on a screen (Image source: Anna Webber/Getty Images for Afterpay)

Why is Cash App Having to Pay up?

Cash App admitted that it suffered two different data breaches back in 2021 and 2023. In the first incident, which was reported in 2022, a former employee of the company gained access to the database and downloaded user transaction reports. In the second reported incident, another unauthorized worker gained access to the systems and accessed Cash App accounts of users through their phone numbers that were linked to the accounts. 



 

Following the disclosures, plantiffs sued Cash App Investing and Block Inc. for the companies' "failure to exercise reasonable care in securing and safeguarding consumer information," as per USA Today. The class action lawsuit alleged that  Cash App was negligent in handling the data breaches and failed to properly address the concerns of its customers.

While Cash App and Block denied any wrongdoing, they agreed to settle the case and pay $15 million to the affected customers. This was in addition to the legal costs, which customers who submit eligible claims will be reimbursed for.



 

In a 2022 filing with the U.S. Securities and Exchange Commision, Block said that it was notifying about 8.2 million current and former users about the breaches and the settlement.  

Who is Eligible for a Reimbursement?

As per the settlement website, users of Cash App and/or Cash App Investing, whose accounts were accessed without their permission, are eligible to file a claim. Those impacted by fraudulent withdrawals or transfers between August 23, 2018, and August 20, 2024, can file for up to $2,500 as reimbursement. 

What Does the Settlement Cover?

The settlement covers out-of-pocket losses that customers suffered due to the data breach. Those who lost time because of it can file a claim as well at a rate of $25 per hour.



 

Furthermore, any user who suffered monetary losses due to the transactions and has not been reimbursed, can file a claim for the same. Everyone and anyone who submits a claim will need to provide “third-party documentation” that connects their Cash App or Cash App Investing account to “a data security incident, unauthorized account event, or deficiency in error resolution”, according to the website. Users with multiple accounts are required to file only one claim for all the losses incurred. 

Representative image of icons of Cash App and other payments apps on top of Form 1099-k (Image source: Stock photo/Getty Images)
Representative image of Cash App and other payments apps on top of Form 1099-k (Image source: Stock photo/Getty Images)

Where to File and What's the Deadline?

Cash App users can submit a completed claim form on the dedicated website cashappsecuritysettlement.com before the official deadline of November 18. The website lists December 16 as the date for the final approval hearing for the case.



 

MORE ON MARKET REALIST
The guest had no idea about the item being a Tiffany product and being embedded with a rare gem.
10 hours ago
The host was baffled by the goof up that the contestant made between two words.
11 hours ago
Carey showed that he has got the weapon of sarcasm, and he isn't afraid to use it.
12 hours ago
Whatever the host was expecting, it was far away from what the contestant said on national TV.
13 hours ago
The guest was surprised to learn more about the item he had actually found on the street for free.
15 hours ago
After going through everything on the board, the player left Harvey in hysterics with his answer.
1 day ago
As it so turned out, the weird-looking floor lamp was a piece from a very famous studio.
1 day ago
Most contestants were consistently getting the answers wrong, and Harvey was worried about what was next.
2 days ago
Some claimed that they got the puzzle despite English being their second language.
2 days ago
The letter was written to a columnist in response to a piece taking a swipe at Sinatra.
2 days ago
In a special episode of Celebrity Family Feud, a WWE star decided to go for the one thing Harvey is known for.
2 days ago
Luck was shining for her as she was off to a flying start and won the car with a single card.
2 days ago
Sajak had a witty reply for the contestant who was fanboying over White during the game.
5 days ago
The model said that considering White's age she would also take the offer from Sony.
5 days ago
Sheila won a brand new entertainment unit, complete with an HD plasma TV and mini bar from Howard Miller.
6 days ago
The appraiser disclosed that Yoakum began painting in the 1960s and he created one unique piece of art every single day.
6 days ago
The entrepreneur also managed to get the sharks to taste the vegan alternative meant for pets.
6 days ago
Throughout the game Monica tried to calm her nerves by placing her right hand over her chest.
7 days ago
Harvey later realized that the contestant had a crush on him and they had a moment.
7 days ago
The host had warned the men in advance to not risk their marriage for some points.
Mar 24, 2025