Millions of Cash App users may be entitled to compensation following a $15 million class-action settlement. The lawsuit against Cash App’s parent company, Block Inc., stemmed from allegations of negligence after data breaches led to unauthorized account access. If you’ve used Cash App or Cash App Investing, here’s how you might qualify for a payout of up to $2,500.
Who is Eligible for $2500 Cash App Class Action Settlement in 2025?
To qualify for a payment, you need to meet these criteria:
- You used Cash App or Cash App Investing between August 23, 2018, and August 20, 2024.
- Your account was accessed without authorization, resulting in fraudulent transactions or financial loss.
If your account was affected and you’ve had out-of-pocket losses or spent time resolving the issue, you could be eligible for compensation.
How Much Money Can You Get?
Payments vary depending on your losses:
- Out-of-Pocket Losses: You can claim up to $2,500 for unreimbursed losses caused by unauthorized account activity. To receive the funds, you’ll need to provide supporting evidence such as bank statements or records of communication with Cash App customer service.
- Lost Time Compensation: If you spent time addressing the issue, you can claim $25 per hour for up to three hours, totalling a maximum of $75.
When Will Payments Be Sent?
A court hearing to approve the settlement is scheduled for January 13, 2025. Once approved, payments are expected to begin 9 to 12 months later, with funds likely being distributed between October 2025 and January 2026.
What’s the Story Behind the Settlement?
The class-action lawsuit accused Block Inc. of failing to secure user data, leading to significant breaches:
- In 2022, a former employee accessed sensitive data without authorization, compromising the accounts of approximately 8.2 million users.
- Other breaches occurred due to recycled phone numbers, where new users unintentionally gained access to previous account holders’ Cash App accounts.
While the company denied wrongdoing, they agreed to the settlement to resolve the claims and avoid further litigation.
What Should You Do Next?
If you submit a claim before the November 18, 2024, deadline, you’ll be notified when payments are processed. To stay informed about updates, visit the settlement’s official website or contact the administrator at 1-866-615-9740.
If you missed the filing deadline, keep an eye out for similar opportunities in the future.
