Block Details

Block

San Francisco, California • 12985 employees • Financial services

Industry

Financial services

Security Incidents

Block, Inc. is a U.S. listed company founded by Jack Dorsey and Jim McKelvey in 2009. It is a financial technology conglomerate.

Security Incidents

Block Breach of Apr 2022

Severity Score

Low to Moderate

Type

Insider Threat

Summary

In April 2022, Block (formerly known as Square) experienced a security breach when a former employee downloaded reports from Cash App, a subsidiary of Block, without authorization. The breach affected approximately 8.2 million current and former Cash App Investing customers. The compromised data included full names, brokerage account numbers, and in some cases, portfolio values, holdings, and trading activity. Block promptly launched an investigation and notified affected customers, emphasizing that sensitive information such as usernames, passwords, Social Security numbers, and payment card i...
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Severity

The breach was severe as it involved a former employee of Block downloading reports from Cash App that contained sensitive information about 8.2 million U.S. customers. The employee had regular access to these reports as part of their job responsibilities, indicating a potential insider threat to the security of the data.

Impact

The breach impacted over 8 million users of Cash App Investing, exposing their sensitive information to potential misuse. This breach could lead to financial fraud, identity theft, and other cybercrimes targeting the affected customers, causing significant harm to their privacy and financial security.