Transak class action claims crypto company failed to protect customer data

Transak class action lawsuit overview:

• Who: A customer has filed a class action lawsuit against Transak USA LLC.
• Why: The plaintiff claims Transak failed to properly secure and safeguard the personally identifiable information of its customers.
• Where: The Transak data breach class action lawsuit was filed in Florida federal court.

A new class action lawsuit alleges Transak failed to properly secure and safeguard the personally identifiable information (PII) of its customers.

Plaintiff Shane Pearson filed the Transak data breach class action lawsuit against Transak USA LLC on March 11 in Florida federal court, alleging violations of state and federal consumer laws.

According to the complaint, the Transak data breach affected at least 23,113 individuals, exposing sensitive information such as full names, driver’s license numbers and dates of birth.

Pearson claims he and other Transak customers were required to entrust the company with their private information as part of their relationship with the financial technology firm.

Transak specializes in fiat-to-crypto payment gateway solutions, facilitating transactions between traditional currencies and cryptocurrencies, the Transak class action says.

Pearson claims Transak’s failure to implement industry-standard security measures allowed hackers to access and steal the data.

Transak data breach left customers vulnerable to identity theft, fraud, class action says

The Transak data breach occurred on or around Sept. 23, 2024, but affected individuals were not notified until Feb. 28, 2025, the class action says.

This delay, Pearson says, diminished the ability of those affected to take timely action to mitigate the risk of identity theft and other harms.

The Transak class action alleges the company’s negligence left the private information in a vulnerable condition, making it an attractive target for cybercriminals.

Pearson says he and other class members have already suffered financial costs, loss of time and emotional distress as a result of the Transak data breach.

The Transak class action lawsuit brings claims for negligence, breach of third-party contract, invasion of privacy and unjust enrichment.

Pearson is looking to represent anyone whose information was exposed in the Transak data breach. He is seeking certification of the class action, damages, fees, costs and a jury trial.

He also wants Transak to implement data security practices to guard against future breaches and to provide all data breach victims with lifetime identity theft protection services.

Recently, the New York-based cybersecurity firm Wiz alleged that the AI application DeepSeek left over a million lines of sensitive data unsecured.

What do you think of the allegations in this Transak class action lawsuit? Let us know in the comments.

The plaintiffs are represented by Jeff Ostrow of Kopelowitz Ostrow P.A.The Transak data breach class action lawsuit is Pearson v. Transak USA LLC, Case No. 1:25-cv-21146, in the U.S. District Court for the Southern District of Florida.

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