Brainsil / iStock.com
Cash App, the free financial app that lets users transfer money between friends and also provides banking and investment services, suffered a breach in December 2021 that put the data of more than 8 million people at risk of users.
Explore: 9 bills you should never put on automatic payment
Find: Cash App Borrow: How to borrow money on Cash App
Block, the financial services and digital payments company that owns Cash App, admitted the breach in a Securities and Exchange Commission (SEC) filing on Monday, April 4, 2022.
The SEC filing shared that a former employee accessed reports containing full names and brokerage account numbers for US clients. Some reports also contained brokerage portfolio value, portfolio holdings, and stock trading activity.
Block said it would contact 8.2 million current and former US customers to notify them of the breach. The company also said the reports did not include usernames, passwords, social security numbers, dates of birth, payment card information, or bank account information.
If you’re a current Cash App user or have been in the past, keep an eye out for an email from Block detailing the breach and next steps for consumers, BGR.com reported. Block is currently working with a forensic company to determine the impact of the breach and to prevent future breaches.
More from GOBankingRates