Millions of Cash App users faced concerns after reports of unauthorized access to their accounts surfaced between August 2018 and August 2024. This situation led to a major class action lawsuit against Cash App and its parent company, Block, Inc. Recently, a $15 million settlement was reached, offering affected users a chance to claim compensation up to $2,500. Here’s everything you need to know about the Cash App class action settlement for 2025 including how to check your payment status and important deadlines.
Background of the Cash App Data Breach Lawsuit
Between August 23, 2018, and August 20, 2024, many Cash App users experienced unauthorized access to their accounts, leading to privacy breaches and financial losses. These breaches prompted users to file a lawsuit accusing Cash App and Block, Inc. of inadequate data security measures.
After thorough negotiations, a settlement agreement was approved by the court, resulting in a fund of $15 million dedicated to compensating eligible users who suffered losses due to the breach.
Settlement Amount and Eligibility
Eligible claimants can receive:
- Up to $2,500 for documented out-of-pocket losses directly linked to the breach.
- Up to $75 for time spent addressing issues related to the breach, with a cap of 3 hours.
It is important to note that only users who filed a valid claim by the deadline of November 18, 2024 qualify for compensation.
Timeline: When Will Payments Begin?
The settlement received its final approval at a court hearing held on January 13, 2025. Following this, if there are no appeals from either party, payments to claimants are expected to start between late 2025 and early 2026.
However, if appeals are filed, the timeline may be delayed. Also, payment speed could vary based on the number of approved claims and the selected payment methods by claimants.
How to Check Your Claim Status
If you submitted a claim before the deadline, it’s important to regularly check your payment status to stay informed.
To do so:
- Visit the official settlement website at cashappsecuritysettlement.com.
- Use the Claim Lookup Tool by entering your Notice ID and Confirmation Code.
- For assistance, contact the settlement administrator:
- Phone: +1-866-615-9740
- Mailing address: Available on the official site under “Contact Us.”
Payment Methods and Distribution
Claimants were given options to receive payments through several methods:
- Direct deposit to bank accounts
- PayPal transfers
- Zelle payments
- Physical checks mailed to the claimant’s address
Generally, those who selected digital payment methods like direct deposit or PayPal may receive their funds faster than those who opted for mailed checks.
Important Reminders
- Make sure all your submitted documentation is accurate and complete to avoid any payment delays or reductions.
- Only claims submitted by the November 18, 2024 deadline are eligible for payment.
- Keep your contact information updated on the settlement website to ensure you receive notifications.
- Monitor official announcements on the settlement website to stay informed about payment schedules and updates.
Conclusion
The $2,500 Cash App class action settlement represents a significant opportunity for affected users to recover losses caused by unauthorized access to their accounts. If you submitted a claim on time, be patient and keep checking the official site for updates on your payment status.
If you missed the deadline, it’s still wise to monitor your financial accounts closely and take preventive actions to safeguard your personal and financial information.
