Cash App Breach a Former Employee’s Data Hack May Have Affected over 8 Million Cash App Customers.

Users of the cash app will be hearing a lot more about this data leak in the near future. A former employee’s data hack may have affected more than 8 million users of the Cash App. Please read the complete article to learn more about this data leak cash app.

An Explanation For A Data Breach Involving The Cash App

For the first time since it launched Cash App in 2013, financial services and digital payments firm Block has filed a report with the Securities and Exchange Commission (SEC). Ex-employees of Cash App’s Cash App Investing service were responsible for the breach that occurred on December 10, 2021, when they obtained reports that contained user data from the site.

Customer names and brokerage account numbers, which are unique ID numbers associated with Cash App Investing customers’ stock activity, were downloaded reports even though the company stated that no “usernames or passwords. Social Security numbers date of birth payment card information addresses bank account information or any other personally identifiable information” was compromised.

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Hacker May Have Compromised 8 Million Cash App Users.

an ex-employee of the business Personal information belonging to more than 8 million people may have been compromised when a report was downloaded by Cash App users. Twitter co-founder Jack Dorsey founded the financial services firm that owns Cash App on Monday, according to a report filed with the US Securities and Exchange Commission. He said that the ex-employee had downloaded the data in December. In spite of the ex-access employees to information while at work, a report stated that material was downloaded after the person had left the organization.

Block Confirms Ex-Employee Breach of Cash App Data

However, entire names and brokerage account numbers were included in the data that had been stolen, not just usernames and passwords or social security numbers. In order to track the user’s investing behavior on the Cash App platform.

Additionally, “brokerage portfolio valuation, brokerage portfolio holdings and/or stock trading activity for one trading day” were all breached. Those who use Cash App Invest, which has 8.2 million customers, are among the possibly affected, according to the document. All present and previous clients of the Block plant are being contacted to provide them with information about the incident and share resources to answer any questions they might have.

According to The Block, it has also alerted authorities to the infringement. 

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In order to secure the personal information of its customers, the company constantly reviews and strengthens the company’s administrative and technical security measures. Based on its preliminary evaluation and available facts, the Company does not currently expect that this event will have a substantial impact on its business operations or financial results,” the statement reads. Calling the file is done. According to ZeroFox’s director of intelligence services, the event should not immediately harm users, but they could be affected if the data is taken.

“On its own, this knowledge is of no use. Darah said that it should be used in conjunction with other materials. By practicing their unlawful actions, the bad guys can improve their ability to access and remove data from accounts. Their magical machines will be used to search for accounts that can be broken.” According to him, “It’s most likely here.” For the sake of security, Darah recommends that all Cash App users change their passwords and enable Two Factor Authentication (2SV).

Was The Data Breach Affecting Cash App?

Yes, a data breach affecting US users of Cash App’s investment services damaged the company.

What Is Being Done To Fix The Problem?

He immediately alerted law enforcement and, with the support of an unknown forensics outfit, began the investigation into the hack. This includes contacting all 8.2 million affected consumers and alerting all relevant regulatory authorities, which are also in the process of investigating the compromise. Customers’ personal information is a top priority for Block, and the company is always enhancing its security measures to keep it safe.

Is It Possible To Add Two-factor Authentication (2sv) To Cash?

You’ll need the Google Authenticator app if you want to use Cash App’s 2SV feature. This process can also be completed with the use of your phone number if you want.

In order to do this, open your Cash App and go to Settings. Afterward, select the security choice. Make sure you select the 2SV option. The Google Authenticator app should be selected. The Google Authenticator App is a lifesaver, so scan the QR Code and type in the six-digit code. You’ll be safe after doing this.