Cash App Data Breach - what you should know? - podcast

Cash App data breach affected 8.2M users

Hello everyone, so in this episode we're going to talk about Cash app Bridge Data Bridge. So yeah, it's confirmed by block formerly square, so that's the parent company for the cash app that its cash app bridge impacted 8.2 million users and stolen info included the value of customer. Portfolios and stock trade details, maps and brokerage account numbers but didn't involve the company's payment system as a Samsung passport and various other personal identification identifiable information. We are not accessed. So at least that. So that's a statement from the block company. Umm? So yeah, it did. A filing with the Securities and Exchange Commission on April 4. Sad that reports were accessed by insider on the December 10th, so this is the date of the bridge. While this employee had regular access to these reports that are passed as part of their past jobs responsibilities, as instance, these reports were accessed without permission after their employment ended, the filing reads block refused to answer our questions about why a former employee still had access to this data, so I'm just reading here through that crunch. And from how long they retained access after their employment, and the company had ended. The information in the reports include the user's full name, brokerage, account numbers, and for some customers that access data also includes brokerage. Portfolio while you brokers portfolio, equities and stock trading activity for one trading day. So yeah, Cashapp says it's contacting approximately 8.2 million current and former customers about the incident. Blog says no other personally identifiable information beyond names were accessed, such as user names and passwords, Social Security, neighbors, numbers, payment card information, addresses were included in the reports. The family knows that other cashapp products and features and customers outside of the US who are not impacted. So that's that basically. Following his discovery of the incident for months after the fact, the company has launched an internal investigation and says it is notified the applicable regulatory authorities and law enforcement. At cash approval customer trust and are committed to the security of customers information. So that's that. So of course there are so many so many questions. Additional questions regarding the scope of the incident, but the blog of course declined to answer. So that is that so cache app. Data bridge was trending. Because of course people were super concerned and. And also it's super hard to reach out. Cash up customer support as a lot of cash app users on the App Store can. You can just review that it's super hard to reach out for support, you will just see some automated responses and it's hard to get this real person in touch. Probably they just have all these AI bots. I mean it is understandable, but also if you're keeping some bigger money amount of money in cash up and then you hear something about data breach. So that's kind of frustrating. And then you can also can't reach out their customer support. So it says over 8,000,000 users of the mobile payment. They were just basically downloaded. This kind of report was downloaded by a former employee. So does that. Uh. Also, cash app blog companies as the company takes the security of information belonging to customers very seriously and continues to review and strengthens administrative and technical safeguards to protect the information of its customers. Also, the company has not yet completed its investigation of the incident. Based on his preliminary assessment and information currently known, the company doesn't currently believe the incident will have material impact on this. Business operation of financial results. So some experts say, for example Adam Dara, that this incident shouldn't directly affect users, but could impact them if the data is eventually stolen. This information by itself is not valuable. It has to be a part of this other stuff, but guys can then be more efficient in their illegal shenanigans, meaning breaking into an account and taking stuff out of an account. They will use our magic machines. They will have to try to find specific accounts that they can break into, and that's most likely end game here. So that's basically that. So by itself, again, this information is not. It's not. Like so dangerous because it's just like the full names. Of the you know the people and all of that, but there is no assessment numbers, no nothing. All of that. But if you combine this. Combine that. And so, for example, it includes full names and brokerage account numbers. Which are used to identify user stock activity on cash app in West. So this information can be combined with like some other information which hackers can get. So yeah. And then maybe then it can become dangerous. So yeah, like think about that. Or maybe that's basically the end game, as this expert says, so I don't know. So that's basically what in the nutshell, what happened. What you should know. Well, yeah, a lot of people say that like, you shouldn't use cash app as you're like you know my end banking app to keep large amounts of money there. There are a lot of issues like you can't reach out support. There are some bugs here and there, but it's really convenient app to make small payments to send money to friends and staff to have some everyday purchases and some bonuses. Cashbacks buy coffee and Starbucks. All of that. So that's perfect. Use case for cash app, but it's not the app. So like have there like hundreds of thousands of dollars or something like that. I would say I don't know. However, I really like Kashyap and the UI and all of that. But as you can see, my bizarre can be some security issues there, so maybe that's that, but let's see how they will improve it.