Cash App has suffered from an internal data breach affecting at least 8.2 million current and former U.S. customers. Block, the parent company of the popular fintech app, confirmed the breach in a filing to the Security and Exchange Commission (SEC).
As per the details provided by the company, records were accessed by a former employee on the 10th of December. The employee was part of the project and had access to all the data. Block had terminated the tenure of the employee before the data breach.
Cash App Data Breach
It is not clear how the former employee got access to the data of 8.2 million users. At first sight, the employee still had access to reports after termination. The leaked reports include Full Names, Brokerage Account Numbers, Holding, and Portfolio Values of the affected users. It also has a single-day trading activity.
However, the company says that the breach did not include more sensitive information like username, passwords, date of birth, addresses, bank accounts, social security numbers, credit card information, etc. Most importantly, the breach has not affected the security access points like Cash App passwords, PIN, etc.
Taking a faster response to combat the damage, Block has hired a forensic investigation firm to investigate the breach. The company didn’t provide an exact number of customers affected by the data leak. It will contact 8.2 million current and former customers. All the customers who might be affected by the leak are from the U.S.
The breach doesn’t affect customers of other countries where Cash App operates like the U.K. We regularly hear the news about data leaks, but most are done through external groups. It is scarce to see a former employee leaking the company’s data. Do you use Cash App for sending payments across the United States? Do let us know in the comments.