Is Cash App safe?
- Fee on a $1,000 buy
- $9by bank transfer
- Bank withdrawal time
- Not published
- Coins
- Not published
A New York licence is held by Block, Inc, which serves Cash App's US customers. Any crypto you hold through Cash App lacks FDIC insurance. On record is 1 dated incident involving Cash App, and sources are listed.
Licences and registrations for Cash App
Block, Inc. operates the US side of Cash App.
Cash App's New York licence or charter comes from NYDFS.
State licences for Cash App appear on the Cash App licences page.
Incidents and enforcement: Has Cash App been hacked?
Each Cash App incident has a link to the regulator or company statement that is its source.
| Date | What happened | Source |
|---|---|---|
| April 10, 2025 | Under an NYDFS settlement, Block, Inc. will pay a $40 million penalty for failures tied to BSA/AML and virtual currency compliance on Cash App. The settlement requires an independent monitor. | dfs.ny.gov |
How your money is kept
On the pages we read, Cash App has no published proof-of-reserves attestation.
According to Cash App, most of the bitcoin it holds is kept in cold storage (offline).
Scams targeting Cash App users, including text scams
Don't give your Cash App password or 2FA code to anyone. If a text or call asks you to move funds to a "safe wallet", don't do it. Use only the app or website for all contact with Cash App.
Is Cash App FDIC insured or not?
Neither FDIC nor SIPC insurance covers crypto held on Cash App.
We earn a commission if you open an account through our links. It does not change the fees you pay or our score.
Open a Cash App accountFurther Cash App details
Questions from people
Is Cash App legitimate?
Yes, Cash App is a real business. US customers of Cash App deal with Block, Inc. Here, you can see its 1 dated incident and the sources for it.
Is crypto on Cash App FDIC covered?
No, not the crypto. FDIC or SIPC insurance doesn't cover crypto held on Cash App.
What should you do if a Cash App code arrives that you didn't request?
Consider it a warning. Don't give your Cash App password to anyone, and don't share a 2FA code. Don't send funds to a "safe wallet" if a text or call tells you to. Use only the app or website to contact Cash App.