Summary (tl;dr)

Payments are currently being distributed to eligible users as part of a $15 million class-action settlement stemming from data breaches affecting Cash App Investing customers between 2021 and 2023.

Essential Background

In December 2021, a data breach occurred when a former employee of Cash App Investing, a subsidiary of Block Inc., unlawfully downloaded reports containing sensitive personal information of approximately 8.2 million current and former Cash App Investing users. This incident, publicly disclosed in April 2022, exposed full names, brokerage account numbers, portfolio values, holdings, and stock trading activity for one day, though it did not compromise passwords or Social Security numbers. A second security incident in October 2023 involved unauthorized access to certain Cash App accounts through recycled phone numbers. Multiple class-action lawsuits were subsequently filed against Block Inc. and Cash App Investing, alleging negligence and failure to protect customer data.

The Full Story

These keywords are trending because approved claimants in the consolidated class-action lawsuit are now receiving payments from a $15 million settlement. The lawsuit, known as Salinas, et al. v. Block, Inc. and Cash App Investing, LLC, resolved allegations of security failures and unauthorized account activity impacting users between August 23, 2018, and August 20, 2024. While Block and Cash App Investing denied wrongdoing, they agreed to the settlement, which received final court approval on March 27, 2025. The deadline to file a claim for this settlement was November 18, 2024, and new claims are no longer being accepted.

Why It Matters

The distribution of settlement payments is a significant development for the millions of Cash App Investing users whose personal information was exposed. This event underscores the ongoing challenges companies face in protecting customer data and highlights the legal recourse available to consumers following data breaches. It serves as a reminder of the importance of robust data security measures and transparent communication from financial technology companies.

Geographic Location

• U.S. District Court for the Northern District of California, United States (where the class-action lawsuit against Block Inc. and Cash App Investing was filed and consolidated)