Cash App User Data Accessed By Former Block Employee: What You Need To Know
Block Inc., the parent company of Cash App, has confirmed a data breach affecting users of the popular mobile payments service. Initially released in 2013, Cash App is a mobile payment service developed by Block. It is one of the biggest services in its category alongside the likes of Venmo, reporting 70 million annual transacting users and $1.8 billion in gross profit in 2021.
Block was co-founded by Twitter founder and CEO Jack Dorsey and owns a number of popular services apart from the Cash App. These include the music streaming service Tidal, payments platform Square, and crypto platform TBD. The company was earlier known as Square but changed its corporate name to Block last year. Cash App was earlier known as Square Cash.
Related: How To Cash Out On Cash App (And How Long It Takes)
In a filing with the United States Securities and Exchange Commission (SEC) on April 4, Block revealed that a former employee had downloaded and accessed company documents that contained customer data. According to the company, the leaked data includes the full names of users, as well as their portfolio value, portfolio holdings, and stock trading activity for one trading day. According to Block, no other personally identifiable information was revealed in the data breach, as the downloaded reports did not include passwords, Social Security numbers, dates of birth, payment card information, addresses, bank account information, etc. The company also claimed that other Cash App features were not affected by the leak, and non-U.S. customers were not impacted by the incident.
The data breach took place on December 10, 2021, although it's not immediately clear if the leaked data includes information related to that particular day. Block did
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