A major legal development is shaking up the fintech world. Cash App has agreed to a $15 million class action settlement after a massive data breach exposed personal information of over 8 million users.
If you used Cash App or its Investing feature between August 23, 2018, and August 20, 2024, you may be eligible to claim up to $2,500 for documented financial losses—and up to $75 for lost time.
Let’s walk through exactly who qualifies, what you need to file your claim, and when to expect your payment.
Overview
Here’s a quick snapshot of the settlement terms:
| Aspect | Details |
|---|---|
| Maximum Compensation | Up to $2,500 per user |
| Lost Time Reimbursement | $25/hour (up to 3 hours = $75) |
| Total Settlement Fund | $15 million |
| Eligibility Period | Aug 23, 2018 – Aug 20, 2024 |
| Claim Deadline | Nov 18, 2024 |
| Final Hearing Date | Jan 13, 2025 |
| Settlement Website | www.cashappsecuritysettlement.com |
Background
The breach at the heart of this case happened in December 2021, when a former employee accessed and downloaded reports containing sensitive user data. The reports included full names, brokerage account numbers, and financial activity. Roughly 8.2 million users were impacted.
The class action lawsuit accused Cash App and Block Inc. of failing to implement proper safeguards, and the resulting settlement is now holding them accountable.
Eligibility
To qualify for compensation, here’s what you need:
- You had a Cash App or Cash App Investing account during the eligible period
- You experienced unauthorized access, fraud, or identity theft
- You can provide proof of financial loss or time spent resolving the issue
Even if you didn’t lose money, if your personal info was compromised, you may still qualify for a portion of the settlement.
Documentation
To support your claim, gather these documents:
- Bank Statements or App History showing unauthorized charges
- Emails or Chats with Cash App customer support about the breach
- Police Reports or FTC Reports for identity theft cases
- Any receipts for credit monitoring services or fraud protection tools
How to File
Here’s a step-by-step guide to file your claim:
- Visit the Official Site
Go to www.cashappsecuritysettlement.com - Fill Out the Form
Provide your contact details, describe your losses, and choose your preferred payment method (direct deposit or check) - Upload Your Proof
Attach any documents that support your claim - Submit by Deadline
The claim deadline is November 18, 2024, so don’t wait
Payout Timeline
Once the final hearing happens on January 13, 2025, and if the settlement is approved (with no appeals), the payments will begin within 9 to 12 months. That puts the expected payment window around late 2025 or early 2026.
Digital Security Lessons
This case is more than just a payout—it’s a red flag for digital finance companies. If they’re not prioritizing data protection, they’ll pay the price—literally. And for users? It’s a reminder to take online security seriously:
- Enable 2FA (Two-Factor Authentication)
- Check your account regularly for strange activity
- Report any suspicious charges immediately
This settlement holds Cash App accountable—but it also empowers users to stay alert and protected moving forward.
FAQs
Who qualifies for the Cash App settlement?
Anyone affected between Aug 2018–Aug 2024 with proof of loss.
How much can I receive in compensation?
Up to $2,500 for losses, plus $75 for time spent.
What is the deadline to file a claim?
Submit your claim by November 18, 2024.
Where do I file my claim?
Visit cashappsecuritysettlement.com to file online.
When will payments be sent out?
Payouts are expected by late 2025 or early 2026.
