US payment app 8 million user data stolen by ex-employee: including stock account numbers


Block (previously known as Square, well known for its magnetic stripe card reader Square Reader) revealed its data breach on April 4, admitting that a former employee had downloaded his child after leaving the company. Cash App Investing client reports contain information about its clients in the United States.

While frequent access to these reports was part of the employee’s job responsibilities, it should have been closed when the employee’s employment ended, yet the former employee had continued access to client records without permission.

Cash App, cryptocurrency trading app. For all of 2021, Cash App generated $10.01 billion in bitcoin revenue and $218 million in bitcoin gross profit. In December alone, there were more than 44 million transactions on the Cash App.

The incident happened on December 10, 2021, and the leaked report contained the client’s full name, brokerage account number (a unique identification number associated with the client’s stock activity on Cash App Investing), brokerage Portfolio value, brokerage portfolio holdings, and stock trading activity for some clients.

In a filing with the Securities and Exchange Commission on April 4, Block, the parent company of Cash App, publicly confirmed the data breach. The corporation would not say how many consumers were affected by the event, but it said say it was in the process of contacting 8.2 million current and past customers.

According to Block, the leaked data did not include personally identifying information such as usernames and passwords, Social Security numbers, dates of birth, credit card information, addresses, or bank account information. Block’s investigation into the incident is not yet complete, but based on its first assessment and already available information, Block believes the incident will have no major impact on its business, operations, or financial performance.

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However, data leakage is a bad experience both for the enterprise itself and for the target customers of the enterprise. Sometimes, a data breach can even determine the survival of a business. Therefore, enterprises must establish an important awareness of enterprise data protection. Using virtual machine backup to protect their own data is the foundation of protecting enterprises.


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