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Cash App Data Breach Overview:
- Who: Over 8 million users of the mobile payment app Cash App had their personal information compromised in a data breach.
- Why: A former employee of the company downloaded reports containing the personal information of U.S. users.
- Where: The breach affects Cash App users nationwide.
More than 8 million Cash App users have had their personal information exposed in a new data breach.
Block, Cash App’s parent company, revealed the breach in an Apr. 4 report filing on the incident with the U.S. Securities and Exchange Commission.
In it, Block says it learned that a former employee had downloaded certain customer information reports on 8.2 million Cash App customers in December after the employee’s contract had ended.
“The information in the reports included full name and brokerage account number… and for some customers also included brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity for one trading day,” the report says.
The company is not currently facing legal action over the data breach, but Top Class Actions follows data breaches closely as they sometimes end in class action lawsuits.
Cash App Data Breach Did Not Expose Usernames, Passwords
Block says the employee had regular access to the reports as part of their past job responsibilities; however, in this instance, these reports were accessed without permission after their employment ended.
The reports did not include usernames, passwords, Social Security numbers, dates of birth, payment card information, addresses, bank account information or any other personally identifiable information. They also did not include any security codes, access codes or passwords used to access Cash App accounts, the report says.
Upon learning of the breach, Block and outside counsel launched an investigation with the help of a leading forensics firm, it says.
“Cash App Investing is contacting approximately 8.2 million current and former customers to provide them with information about this incident and sharing resources with them to answer their questions,” the report states. “The Company is also notifying the applicable regulatory authorities and has notified law enforcement.”
Block says it will review and strengthen administrative and technical safeguards to protect the information of its customers. It added that future costs associated with the data breach incident were “difficult to predict.”
Adam Darrah, director of intelligence services at cyber security company ZeroFox, tells USA TODAY the incident shouldn’t directly affect users but could impact them if that data is eventually stolen.
Darrah advises all Cash App users to update their passwords and enable two-factor authentication to protect themselves from any future concerns.
Recently, Morgan Stanley agreed to a $60 million settlement to resolve a class action lawsuit regarding its 2016 and 2019 data breaches.
Do you use Cash App? What do you think of the data breach? Let us know in the comments.
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212 thoughts onCash App Data Breach Affects More Than 8M Users
I to have been victim to cash app money fraud. I am now in debt with navy federal bc of it. About $500 debt. Add me please.