Block, Inc. has reported a Cash App Investing data breach affecting millions of current and former customers. Here’s what you need to know.
Cash App has become a popular way for people to send money, invest in the stock market, and buy cryptocurrencies like Bitcoin.
But recent reports indicate there is a data breach reaching millions of its customers. Google Trends data also shows that people are looking for information about the reported Cash App breach.
Has Cash App been affected by a data breach?
Yes, Cash App was affected by a data breach that affected US clients who used Cash App’s investment services.
WHAT WE FOUND
Block, Inc., the company that owns Cash App, filed a report with the Securities and Exchange Commission (SEC) on April 4 about a data breach affecting millions of users.
The filing says Block “recently determined” that a former employee uploaded Cash App Investing reports containing client information on December 10, 2021. Although the employee had “regular access to these reports as part of of his previous professional responsibilities”, he acceded to it. reporting without permission after their employment ends.
The data breach impacted current and former U.S. clients who used Cash App’s investment services, according to the SEC filing. Other Cash App products and features, outside of trading activity, were not impacted by the breach.
Cash App Investing is contacting about 8.2 million people with information about the breach, the filing says.
So, what data could have been compromised?
The reports included full client names and brokerage account numbers, which are the unique numbers associated with a client’s trading activity on Cash App Investing. For some clients, reports also included portfolio value, holdings and/or stock trading activity for a trading day, SEC filing and a Cash App spokesperson confirm.
Usernames and passwords, social security numbers, date of birth, payment card information, addresses, or banking information were not included in the reports. The reports also did not include security codes, passcodes or passwords used to access Cash App accounts.
In a statement to VERIFY, a Cash App spokesperson said the company values customer trust and is “committed to the security of customer information.”
Cash App has launched an investigation with the help of a forensic company, according to the spokesperson and the SEC filing. Cash App also notified law enforcement of the breach.
“In addition, we continue to review and strengthen administrative and technical safeguards to protect information,” the Cash App spokesperson said.
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