Title: Cash App Users Eligible for Claims in $15 Million Settlement for Data Breaches

Users of the popular online payment site Cash App may have the opportunity to claim a portion of a $15 million settlement related to a series of data breaches. Block Inc., the owner of Cash App, has agreed to the settlement after allegations of negligence and breach of obligations in failing to implement appropriate controls to prevent unauthorized access to user accounts.

The first breach, disclosed in 2022, involved a former employee who downloaded investment reports containing sensitive information such as full names, brokerage account numbers, portfolio values, and holdings, as well as a day's worth of stock trading data. A year later, an unauthorized user gained access to Cash App information by utilizing phone numbers associated with the previously breached accounts.

Although Block and Cash App Investing have denied liability or any wrongdoing, they have agreed to the $15 million settlement. The goal is to compensate users whose information was accessed without permission or who experienced unauthorized or fraudulent withdrawals or transfers from their accounts between August 23, 2018, and August 20, 2024.

To be eligible for the settlement, Cash App or Cash App Investing users must have experienced unauthorized access to their information or suffered fraudulent withdrawals or transfers during the specified timeframe. Users with out-of-pocket losses can seek reimbursement of up to $2,500, provided they can provide third-party documentation as evidence of the losses. Additionally, users can file a claim for up to three hours of lost work at a rate of $25 per hour.

Examples of out-of-pocket expenses that may be eligible for reimbursement include costs associated with credit monitoring or identity theft insurance, credit report requests, credit freezes, opening new bank accounts, or obtaining replacement credit cards. The deadline for claim submission is November 18, and users can file a claim on the settlement website.

Cash App users affected by the data breaches now have an opportunity to seek compensation for any losses suffered as a result. It is crucial for eligible users to review the required documentation and submit their claims within the given timeframe. The $15 million settlement aims to address the shortcomings in controls that allowed unauthorized access to user accounts, holding Block Inc. accountable for their alleged negligence.

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