Following a data breach and unauthorized access incidents, Block Inc. and Cash App Investing LLC agreed to a $15 million settlement, despite denying any wrongdoing. The class action claimed that a former Cash App employee accessed user accounts in 2022 and that more than 8 million users were affected by security failures.
Those who filed valid claims by 18 November 2024 may receive up to $2,500, including compensation for fraudulent transactions, identity theft, lost time, and out-of-pocket losses. The final court hearing was held on 13 January 2025, and payments are expected to be distributed by the end of 2025.
Table of Contents
Overview
| Item | Details |
|---|---|
| Settlement Amount | $15 million (Block Inc. & Cash App Investing) |
| Claim Deadline | 18 November 2024 |
| Final Approval Hearing | 13 January 2025 |
| Max Individual Payout | Up to $2,500 + $75 for lost time |
| Eligible Period | 23 August 2018 – 20 August 2024 for Cash App accounts |
| Payout Timeline | Electronic payments mid‑to‑late 2025; checks thereafter |
| Official Claim Site | cashappsecuritysettlement.com |
Eligibility Criteria
A Cash App user must have met the following to qualify:
- Held a Cash App or Cash App‑Investing account between 23 Aug 2018 and 20 Aug 2024.
- Experienced unauthorized access, fraudulent transactions, or a data breach during this period.
- Suffered out-of-pocket losses: e.g., overdraft fees, identity‑protection costs, or money taken fraudulently.
- Spent time remedying these issues, with compensation at $25/hour up to 3 hours ($75).
- Not previously compensated for the same losses.
Claims were required by 18 Nov 2024—no late submissions accepted.
Payment Timeline
After the 13 January 2025 final approval, the settlement administrator begins processing payments. Dates depend on:
- Appeals status
- Claim verification procedures
- Payment method chosen
According to updates:
- Electronic payouts (bank transfer, Zelle, PayPal) have started in mid‑2025.
- Checks mailed later in the year for users without digital options .
- Overall payout window: By late 2025.
What Compensation Can You Expect?
1. Reimbursement for Direct Losses
Up to $2,500 to cover documented financial losses due to fraud or unauthorized transactions. Receipts, bank notices, or police reports are essential.
2. Lost Time Compensation
Claim $25/hour for up to 3 hours (max $75) for time taken to resolve issues—such as contacting customer service or monitoring accounts.
3. Transaction Loss Coverage
Additional recovery if you lost funds due to the breach, with documentary evidence required.
Total payouts may combine direct reimbursement and time compensation, up to applicable caps.
How to Check Your Claim & Payment
You can verify your status via:
- Settlement website: log in using your Claimant ID or Confirmation Code.
- Phone: call the Class Administrator at +1‑866‑615‑9740
- Email or postal notice: updates will be sent out as processing progresses
Keep your contact info updated to avoid delays.
Common Misconceptions
- “All Cash App users get paid”: Only those who filed by 18 Nov 2024 with valid losses qualify.
- “No documentation required”: Proof is mandatory—bank statements, receipts, etc., are needed .
Frequently Asked Questions
Q1: Do all Cash App users get paid?
A = Only those with claims filed by 18 November 2024 and documented losses qualify.
Q2: How much can you receive?
A = Up to $2,500 for losses, plus $75 for lost time.
Q3: When will payments be processed?
A = Most via electronic transfer mid‑2025, while checks will follow later.
Q4: How can I track my payment?
A = Check the settlement site with your ID or call +1-866-615-9740.
