Block stated in an SEC filing that a former employee stole 8.2 millions account numbers and names from Cash App Invest customers in December.
Block, formerly Square, stated Monday in a regulatory file that a former employee had downloaded Cash App Investing reports containing customer numbers and brokerage account numbers in December after leaving the company.
On Wednesday morning, the company’s stock price fell as high as 7% to $125.54. Block did not immediately respond to Decrypt’s request for comment.
According to the filing, the company “recently determined” that the breach occurred. This means that it was not detected for nearly four months. According to Block’s latest quarterly report, the app had 44,000,000 monthly customers in the U.S.A and Europe as of December.
The company submitted the file to the Securities and Exchange Commission Monday. It stated that the information included the full name and brokerage account numbers. This is the unique identification number associated a customer’s stock activity via Cash App Investing. Some customers also had brokerage portfolio value, brokerage holdings and/or stock trade activity for one day.
Block stated that the reports did not include usernames and passwords, Social Security numbers or dates of birth, payment information, addresses or any other personally identifiable information.
According to the company, it will be reaching out at least 8.2 million customers and former customers to inform them about the data breach. After a qualifying event, companies usually have four business day to file a report to the SEC.
