Transak USA $601,000 Data Breach Class Action Settlement

Consumers whose private information the September 2024 Transak USA LLC data breach compromised may be eligible to claim up to $1,500 from a class action settlement.

Transak USA LLC agreed to pay $601,000 to resolve a class action lawsuit alleging a targeted cyberattack that occurred in September 2024 compromised certain files containing personal information, including names, addresses, driver’s license numbers and dates of birth.

Who is eligible to file a claim?

Class members include all living individuals in the United States whose private information the September 2024 Transak USA LLC data incident compromised. If Transak’s records show the breach accessed an individual's information, they are a class member.

How much can class members receive?

Class members can claim one of the following:

• Actual, documented out-of-pocket losses: Up to $1,500 in reimbursement. Eligible expenses include:
• Losses from identity theft or fraud
• Fees for credit reports, credit monitoring or freezing/unfreezing credit
• Costs to replace identification documents
• Postage to contact banks or other institutions

• Alternative cash payment: A one-time alternate cash payment of $50 requiring no documentation

If the total amount all class members claim exceeds the $601,000 settlement fund, the settlement administrator will reduce payments on a pro rata basis.

How to claim a settlement payment

Class members can submit the online claim form or download, print and complete the PDF claim form and mail or email it to the settlement administrator. They can also request a paper copy of the claim form by calling or emailing the settlement administrator.

Settlement administrator's mailing address: Transak Data Incident Settlement, c/o Settlement Administrator, P.O. Box 25226 Santa Ana, CA 92799-9958, info@TransakUSASettlement.com, 844-496-1190

Is proof or documentation required to submit a claim?

• Yes, if the class member claims reimbursement for documented losses. They must provide proof such as bank statements, receipts or other supporting documentation.
• No, if the class member claims the alternate $50 payment.

To file an online claim form, class members must provide the unique ID and PIN from the settlement notice they received.

Payout options

• PayPal
• Venmo
• Zelle
• Virtual prepaid card
• Physical check

Settlement fund breakdown

The $601,000 settlement fund includes:

• Settlement administration costs: $25,000
• Attorneys’ fees and costs: $200,000
• Service awards to class representatives: Up to $1,500 each for three represenatives ($4,500 total)
• Payments to eligible class members: Up to $601,000

Important dates

• Opt-out deadline: Nov. 17, 2025
• Claim deadline: Dec. 1, 2025
• Final approval hearing: Dec. 15, 2025

When is the Transak USA data breach settlement payout date?

The settlement administrator will distribute payments approximately 90 days after it resolves any appeals and the court grants final approval of the settlement.

Why is there a class action settlement?

The class action lawsuit alleged unauthorized parties accessed certain files containing private information during a targeted cyberattack on Transak USA LLC’s computer systems in September 2024. The plaintiffs alleged Transak failed to adequately protect this information.

Transak denies any wrongdoing but agreed to settle to avoid the costs, risks and disruptions of ongoing litigation.

Sources

1. Class notice
2. Claim form
3. Settlement agreement
4. Settlement FAQ