If you’ve ever used Cash App in the United States, you could be eligible for a payout from a $15 million class action settlement. The company behind Cash App, Block, Inc., agreed to the settlement after being sued over fraudulent transactions, data breaches, and improper account freezes that affected thousands of customers.
This lawsuit is one of many against financial technology (fintech) companies in the U.S., as more consumers demand better protection and fairer service.
Why Was Cash App Sued?
The lawsuit against Cash App claimed that the platform:
- Allowed unauthorized or fraudulent transactions
- Froze customer accounts without good reason
- Was involved in data breaches that exposed users’ personal information
- Failed to help users quickly resolve issues with their accounts
Because of these issues, affected users may have lost money or experienced emotional stress, security concerns, and damage to their financial reputations.
How Much Could You Receive?
If you filed a claim before the deadline of November 18, 2024, you could receive up to $2,500 from the settlement. The exact amount depends on your situation and the total number of claims filed.
The final hearing on the lawsuit was held on January 13, 2025, and the court approved the settlement. Now, payments will begin after all claims are reviewed.
When Will Payments Be Made?
The settlement payments are expected to be made towards the end of 2025. Claimants can choose to receive their payout by:
- Direct deposit (faster)
- Mailed check (slower)
You can track your claim status and get updates at the official website: www.cashappsecuritysettlement.com
Who Was Eligible to File a Claim?
To qualify for a payment, claimants had to be permanent residents of the United States and fall into one or more of these groups:
1. Unauthorized Access
- You were affected by a data breach, where your Cash App or Cash App Investing account was accessed without permission.
2. Fraudulent Transactions
- You experienced unauthorized withdrawals or transfers of funds from your Cash App account.
3. Regular Users
- You used Cash App or any of its investment services between August 23, 2018, and August 20, 2024.
4. Resolution Issues
- You struggled to resolve issues with your account during that six-year period.
What You Should Do Now
If you’ve already filed your claim:
- Stay patient – Payments may take time to process.
- Check your payout method – Direct deposit is usually faster than a mailed check.
- Track your status – Visit the settlement website regularly for updates.