Cash App has reached an agreement on a settlement amounting to $15 million due to claims regarding insufficient data protection measures. This resolution allows qualifying users to seek compensation totaling up to $2,500 each.

The class action lawsuit concerns data breaches that reportedly took place from 2022 to 2023. The 2022 incident is said to involve unauthorized access by a company employee to Cash App Investing accounts, whereas the breach in 2023 allegedly entailed a third party exploiting recycled phone numbers. Although Cash App asserts its innocence, the company has opted to provide recompense to those affected. If you’re among the vast user base of Cash App across the United States, here’s what you need to know in order to claim your payout.

Eligibility Criteria for the Cash App Data Breach Settlement

To be eligible for compensation, individuals must fulfill the following requirements:

• Must currently or previously use Cash App.
• Have suffered from personal information being compromised without authorization, or…
• Have experienced unauthorized transactions between August 23, 2018, and August 20, 2024.

Steps to Claim Your Portion of the Cash App Settlement

Individuals who believe they meet the eligibility criteria can submit their claims through the designated settlement portal. Those who have received a Notice ID and Confirmation Code should have that information available during submission. However, individuals without this information can still submit a claim.

It may be necessary to provide supporting documentation such as receipts, credit card statements, or police reports to validate claims regarding involvement and the consequences of the data breaches.

Note that the claim submission deadline is November 18, 2024. For individuals wishing to opt out of the settlement, objections must be submitted by November 1, 2024. A final court hearing is slated for December 16, 2024, after which payments will be distributed, assuming no complications arise.

Be aware: Claims are submitted under penalty of perjury. If you do not meet the criteria for this settlement, refrain from filing a claim. Submitting a fraudulent claim could negatively impact true eligible members of the class-action suit.

The compensation amounts will differ based on individual scenarios and the level of impact from the breach experienced by each claimant. This settlement has the potential to impact a considerable number of individuals.

For those keen on participating or seeking further clarification, visiting the official settlement website is the recommended approach to ensure adherence to all required protocols and timelines.