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Former employee downloaded Cash App account info of 8.2M users (SEC Form 8k)

61 points by resalisbury 5y ago

paulpauper 5y ago
it was very limited The reports did not include usernames or passwords, Social Security numbers, date of birth, payment card information, addresses, bank account information, or any other personally identifiable information. They also did not include any security code, access code, or password used to access Cash App accounts. Other Cash App products and features (other than stock activity) and customers outside of the United States were not impacted.
- bduerst 5y ago
  It was full names, brokerage numbers, and some account balances with trading activity. It's a financial sales list, which is incredibly valuable. If you don't agree, then watch the movie Glengarry Glen Ross.
- egberts1 5y ago
  One could make billions furtively if they could.
HL33tibCe7 5y ago
Several unclear things: First, the filing only mentions that they are contacting 8.2 million customers. It doesn’t confirm that those customers definitely had their data accessed. So it’d be interesting to know what their level of confidence/precaution is there. > The information in the reports included full name and brokerage account number (this is the unique identification number associated with a customer’s stock activity on Cash App Investing), and for some customers also included brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity for one trading day. The “some customers” is doing heavy lifting here. If that’s 10%, that’d be enormously damaging, particularly if we’re talking about millions of customers. That information is potentially very dangerous in the wrong hands
- Rufhfhs3747rhe7 5y ago
  Why is trading history and balances "very dangerous in the wrong hands"?
kingcharles 5y ago
Cash App (Square / Block) is basically a Dumpster fire. Their management team is horrible and they utterly hate their customers. Run, don't walk, away from this application if you can avoid using it. Use one of the other terrible options instead, e.g. Venmo.
- toomuchtodo 5y ago
  Just get a real deposit account that supports Zelle.
- sofixa 5y ago
  Does anyone know why American banking sucks so much there are a myriad of apps trying to sidestep it? Over here in the EU, we have neobanks which are app-only, have great features for their price(often with a free tier), which has forced old traditional banks to innovate and get close to their level. What stops the US banking market from evolving?
  - Jxl180 5y ago
    The US has tons of online-only/app only banks too with free accounts.
    - ThePowerOfFuet 5y ago
      Try sending someone money in the US.
- voakbasda 5y ago
  I tried Venmo for a short time, and I think their dumpster is on fire too.

61 points by resalisbury 5y ago

it was very limited The reports did not include usernames or passwords, Social Security numbers, date of birth, payment card information, addresses, bank account information, or any other personally identifiable information. They also did not include any security code, access code, or password used to access Cash App accounts. Other Cash App products and features (other than stock activity) and customers outside of the United States were not impacted.

bduerst 5y ago
It was full names, brokerage numbers, and some account balances with trading activity. It's a financial sales list, which is incredibly valuable. If you don't agree, then watch the movie Glengarry Glen Ross.
egberts1 5y ago
One could make billions furtively if they could.

HL33tibCe7 5y ago

Several unclear things: First, the filing only mentions that they are contacting 8.2 million customers. It doesn’t confirm that those customers definitely had their data accessed. So it’d be interesting to know what their level of confidence/precaution is there. > The information in the reports included full name and brokerage account number (this is the unique identification number associated with a customer’s stock activity on Cash App Investing), and for some customers also included brokerage portfolio value, brokerage portfolio holdings and/or stock trading activity for one trading day. The “some customers” is doing heavy lifting here. If that’s 10%, that’d be enormously damaging, particularly if we’re talking about millions of customers. That information is potentially very dangerous in the wrong hands

Rufhfhs3747rhe7 5y ago
Why is trading history and balances "very dangerous in the wrong hands"?

kingcharles 5y ago

Cash App (Square / Block) is basically a Dumpster fire. Their management team is horrible and they utterly hate their customers. Run, don't walk, away from this application if you can avoid using it. Use one of the other terrible options instead, e.g. Venmo.

toomuchtodo 5y ago
Just get a real deposit account that supports Zelle.
sofixa 5y ago
Does anyone know why American banking sucks so much there are a myriad of apps trying to sidestep it? Over here in the EU, we have neobanks which are app-only, have great features for their price(often with a free tier), which has forced old traditional banks to innovate and get close to their level. What stops the US banking market from evolving?
- Jxl180 5y ago
  The US has tons of online-only/app only banks too with free accounts.
  - ThePowerOfFuet 5y ago
    Try sending someone money in the US.
voakbasda 5y ago
I tried Venmo for a short time, and I think their dumpster is on fire too.