Cash App $15 Million Settlement Status February 2025: Over the last decade, Cash App evolved as one of America’s best-loved peer-to-peer payments programs. Still, the latest attacks left consumers apprehensive concerning protection and privateness and generated a settlement value of $15 million. As of February 2025, the majority of users are wondering if they qualify for compensation and how to get their share, which may be as much as $2,500. In this article, we break down everything you need to know, including who qualifies, the process of claiming, legal issues, and updates on settlement payout.
The $15 million Cash App settlement is a significant one that highlights the importance of fintech security. While the deadline for filing a claim has passed, the settlement is a timely reminder to remain proactive in safeguarding accounts. If you already filed a claim by or before November 18, 2024, monitor your email and the settlement site for payment delivery updates.
| Aspect | Details |
|---|---|
| Settlement Amount | $15 million |
| Eligibility Period | Users with active accounts between August 23, 2018, and August 20, 2024, who experienced unauthorized access or fraudulent transactions. |
| Claim Deadline | November 18, 2024 |
| Compensation | Up to $2,500 for documented losses, including identity theft, credit monitoring costs, and lost time ($25 per hour for up to 3 hours). |
| Final Approval Hearing | January 13, 2025 |
| Official Settlement Website | Cash App Settlement Information |
The Settlement: What Occurred?
The Cash App data breaches that initiated this suit occurred in 2021 and 2023 and affected approximately 8.2 million users. The breaches included:
Unauthorized access by a former employee, exposing sensitive financial data.
Account vulnerabilities with recycled phone numbers, enabling scam transactions.
Therefore, Cash App and parent company Block, Inc. (formerly Square) were also sued by a class-action lawsuit. The case stated that Cash App failed to implement sufficient security mechanisms, exposing users’ data to attacks.
To settle the claims without admitting liability, Cash App consented to paying $15 million in damages to users.
Am I Eligible to Receive a Settlement Payment?
To be qualified for a payment, you must meet all the following:
-
- You had a Cash App account from August 23, 2018, to August 20, 2024.
- You had experienced unauthorized access, identity theft, or fraud due to the data breaches.
- You can provide evidence of any financial loss.
- Even if you lost no money, you could be entitled to a payment if your personal information was impacted. Check for notification in your inbox or on the settlement website.
How to Get Your Cash App $15 Million Settlement?
Despite the deadline being November 18, 2024, that’s what consumers did:
- Visit the Official Settlement Website
Users had to go to CashAppSecuritySettlement.com to fill out the claim form. - Fill Out the Claim Form
Claimants had to provide their name, contact, and Cash App account details. - Return Proof of Losses
These comprised:
- Bank statements showing unauthorized transactions.
- Proof of credit monitoring services receipts.
- Proof of identity theft or fraud.
- Return Before Deadline
The deadline for filing a claim was November 18, 2024.
What’s Next?
As of February 2025, the court’s final approval hearing took place on January 13, 2025. Settlement payments
will begin in mid-2025 if approved.
What to expect:
- Approved claimants will be notified by email about the status of their payment.
- Payments will be issued via a check or direct deposit.
- The size of the final payment may vary depending on the number of approved claims.
How to Protect Your Cash App Account from Future Fraud?
Even as the settlement repays previous victims, it is important to close the door so that future intrusions are barred. Here’s how:
Allow Two-Factor Authentication (2FA)
You can add a 2FA layer by also entering a code in addition to your password.
Use Strong, One-of-a-Kind Passwords
Avoid using the same password for numerous platforms.
Verify Transactions Regularly
Review Cash App history and look for suspicious payments.
Don’t Fall Prey to Phishing Scams
Never share your login information or verification code with anyone.
For more security tips, visit the Federal Trade Commission’s Online Security Guide.