Block Inc. Faces Proposed Class Action Over Cash App Data Breach

Block Inc. was hit with a proposed class action over a December 2021 data breach that exposed the personal financial information of 8.2 million users of Cash App, its popular money-transfer app for smart phones, according to a federal lawsuit.

Amanda Gordon alleged that Block failed to implement adequate administrative, technical, and physical safeguards to protect consumers’ information in connection with the breach.

Information exposed in the breach included names, brokerage numbers, the value and holdings of brokerage portfolios, and trading activity, the lawsuit said. The app allows users to transfer money from one person to another, but also provides ...