It’s not been a good day for those who use the Cash app.
It has been claimed by TechCrunch that a data breach impacting up to 8 million users of the Cash app has been acknowledged by Block, the parent business. Ex-employees are said to have taken client information from the company’s databases.
Since the data breach occurred in December of last year, the organisation has taken steps to avoid a similar issue from happening again.
In the past, this individual had regular access to these reports as part of their work obligations; but, in this instance, these reports were viewed without authorization after their employment terminated. Asked why a former employee had access to this data after their job at the firm was over, Block declined to address our inquiries.
To protect the privacy of our consumers, we take security very seriously at Cash App, as stated by Danika Owsley, the company’s representative to TechCrunch. “We immediately remedied this problem and initiated an inquiry with the aid of a prominent forensics organisation after discovering it. It is clear to us how these reports were obtained, and we have informed law enforcement. In addition, we are constantly reviewing and strengthening our administrative and technical protections to ensure the security of our customers’ information.”
Customers’ identities, account numbers, account values, assets, and trading activity were all accessed, according to the SEC lawsuit. A total of 8.2 million customers have been contacted about the security breach, however the business hasn’t said how many were directly affected by the incident.
The Cash app is a popular choice for people who want to send money to pals, but it has also branched out into Bitcoin investments.