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Former Block employee stole the data of over 8 million customers of the Cash App mobile money transfer app
Block (formerly Square), the parent company of Cash App and Tidal, has notified the U.S. Securities and Exchange Commission (SEC) of unauthorized access to 8.2 million customer data. Protocol writes about this, citing a statement from the company. According to Block, a former employee of the company downloaded “certain reports” that “contained information about customers [Cash App] in USA”.
It is reported that the leak occurred as early as December 10, 2021. Among the information obtained by the former employee (name not disclosed) are the names of clients and brokerage account numbers. In some cases, there were also data such as brokerage portfolio estimates, assets, as well as information on trading activity.
According to Block, the attacker had access to the data “within the framework of his past official authority.” The company has already started notifying affected customers. In a commentary to The Verge, Cash App representatives said they had initiated investigation with an analytics firm.
Cash App is a mobile payment service that allows users to transfer money to each other using a mobile phone application. As of Q2 2021, the app had 40 million active users, writes Fool.com. At the time of writing, the application does not provide services for users from the CIS.
In addition to regular money transfers, Cash App also supports Bitcoin. In the future, the application plans to expand the list of cryptocurrencies. About why Block needed to buy a fintech startup Afterpay and what does bitcoin have to do with it – read in the BeInCrypto editorial material.
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