Time is running out: Submit your claim within a week for Cash App's $2,500 rewards!
Time is running out: Submit your claim within a week for Cash App's $2,500 rewards!
Cash App users whose accounts were recently compromised have less than a week left (as of the time of this writing in 2023) to file a claim and potentially receive up to $2,500 as part of a settlement compensation payout. The deadline to file is November 18, 2024. To be eligible, you must meet these two conditions: your Cash App account was active between August 23, 2018, and the notice date of August 20, 2024; and either you experienced a fraudulent transaction in your account or someone unauthorized accessed your account.
The $15 million settlement stemmed from a data breach that Cash App experienced a few years ago. The settlement information states that the class action began when a former employee illegally accessed data from certain Cash App accounts in 2022. A year later, an unauthorized user also gained access to certain accounts, apparently utilizing the linked phone numbers. This happened around the same time that Cash App's parent company, Block, was facing accusations of not taking its security responsibilities seriously and not having adequate fraud-prevention measures in place.
Cash App reportedly worsened the situation by disregarding user complaints and failing to take responsibility for any issues caused by its insufficient security measures, according to the lawsuit.
By filing an online claim, you can reserve a portion of this multimillion-dollar settlement. Once legal and related fees are deducted, the remaining amount will be evenly distributed among claimants. The exact amount you'll receive depends on the number of people who file a claim, with the maximum payout being $2,500. If the total net settlement amount isn't enough to fully compensate each approved claim, you will receive a lower amount based on your share of the total claimed amount.
To file a claim, complete this application form and provide supporting evidence of your complaint. Alternatively, you can call 1-866-615-9740 to file a claim or write to the Cash App Settlement Administrator at 1650 Arch Street, Suite 2210, Philadelphia, PA 19103. The quickest way to file is online. Additionally, you can claim compensation for the time spent trying to resolve any fraudulent activities at a rate of $25 per hour for up to three hours.
If you choose not to participate, you can simply do nothing. Unfortunately, if you wanted to exclude yourself from the settlement or object to it, that deadline passed on November 1, 2024.
The tech industry is closely watching this settlement, as it could set a precedent for how companies handle data breaches in the future. Engaging with this technology-driven situation, Cash App users should carefully consider their eligibility and potential compensation, given the deadline for filing claims is drawing near.