$601K Transak Settlement Ends Class Action Lawsuit Over September 2024 Data Breach

New to ClassAction.org? Read our Newswire Disclaimer

Transak USA is set to pay $601,000 to settle a class action lawsuit over the disclosure of consumer information during a September 2024 data breach.

Don’t miss the next class action settlement deadline. Sign up for ClassAction.org’s free weekly newsletter.

The Transak class action settlement received preliminary approval from the court on September 7, 2025 and covers 23,113 individuals in the United States whose private information was implicated in the September 2024 data incident.

The court-approved website for the Transak class action settlement can be found at https://www.TransakUSASettlement.com/.

Transak settlement class members who submit a valid, timely claim form have multiple options for reimbursement. Those who submit documented proof of out-of-pocket costs incurred between September 23, 2024 and December 1, 2025 because of the data breach are eligible to receive a one-time cash payment up to $1,500, the settlement website says. These expenses may be related to identity theft, fees for credit reports, and costs to replace IDs.

In lieu of a documented loss payment, class members who submit a valid claim form are eligible to receive a one-time cash payment of $50.

Per the settlement agreement, should the total of all cash payments to class members exceed $601,000, the payments will be reduced on a pro-rata basis. Further, class members may elect to receive their payment via check or electronic payment, and checks must be cashed within 90 days after the date of issuance before expiring, court documents state.

To submit a Transak claim form online, class members can head to this page and enter the class member ID found on their copy of the settlement notice. Consumers who believe they may be a class member but did not receive a settlement notice can contact the settlement administrator to confirm their identity and receive a login ID.

Alternatively, class members can download a PDF of the claim form to print, fill out, and return by mail to the address listed on the second page of the document.

Transak settlement claim forms must be submitted online or by mail by December 1, 2025.

The court will determine whether to grant final approval to the Transak settlement at a hearing on December 15, 2025. Compensation will begin to be distributed to class members only after final approval is granted and any appeals are resolved.

The Transak USA class action lawsuit claimed that the cryptocurrency platform did not properly protect the personal information of its users from cyberattacks. Per court documents, the user information impacted by the data incident included, but is not limited to, names, addresses, driver’s license numbers, and dates of birth.

Head to ClassAction.org’s settlements page for a complete list of data breach settlements.