If you have used the Crypto.com platform while living in Illinois, you may be eligible for a payment from a recent class action settlement. The lawsuit involves Foris DAX, Inc., the entity that operates the popular cryptocurrency exchange. This legal action centers on allegations regarding the collection and storage of biometric data, specifically through the identity verification processes used by the platform.
Understanding your rights in a class action settlement can be confusing, especially when it involves specific state laws like the Illinois Biometric Information Privacy Act (BIPA). This guide provides a straightforward explanation of what the settlement is about, who is eligible to participate, and the specific steps you need to take to claim your share of the settlement fund.
What Is the Foris DAX BIPA Settlement?
The Foris DAX settlement is the result of a legal dispute regarding how user data was handled. The plaintiffs in the case alleged that Foris DAX (doing business as Crypto.com) violated Illinois law by collecting biometric identifiers and biometric information without providing the required disclosures or obtaining the necessary written consent. Biometric data often includes things like facial scans, fingerprints, or voiceprints used for security and identity verification.
The Illinois Biometric Information Privacy Act (BIPA) is one of the strictest privacy laws in the United States. It requires companies to follow specific protocols before collecting biometric data from residents. This includes informing individuals in writing that their data is being collected, stating the specific purpose and length of time the data will be stored, and receiving a written release from the individual.
Foris DAX denies any wrongdoing and maintains that it complied with all applicable laws. However, to avoid the costs and uncertainties of a prolonged trial, both parties agreed to a settlement. This settlement creates a fund that will be used to pay eligible class members who submit a valid claim.
Who Is Eligible for a Payment?
Eligibility for this settlement is specifically tied to residency and the use of the Crypto.com platform within a certain timeframe. To be considered a member of the settlement class, you typically must meet the following criteria:
- Residency: You must have been a resident of Illinois during the time the data was collected.
- Platform Usage: You must have used the Crypto.com mobile application or website and provided biometric information (such as a selfie or video for identity verification).
- Timeframe: Your interaction with the platform must have occurred within the “Class Period.” While these dates are specific to the legal filings, they generally cover users who registered or verified their identity between 2015 and the date the settlement received preliminary approval.
If you are eligible, you may have already received a notice via email or postal mail. This notice often contains a unique Notice ID and Confirmation Code, which makes the filing process much faster. However, even if you did not receive a notice, you may still be able to file a claim if you meet the eligibility requirements.
How to File Your Claim Step-by-Step
Filing a claim is a relatively simple process that can be completed online. You do not need to hire your own lawyer to participate in this settlement, as the class counsel represents all members of the settlement class. Follow these steps to ensure your claim is submitted correctly:
1. Visit the Official Settlement Website
All legitimate class action settlements have a dedicated website managed by a third-party Settlement Administrator. This site is the only place where you should enter your information. Look for the “Submit a Claim” or “File a Claim” section on the homepage.
2. Enter Your Unique Credentials
If you received a notice in the mail or via email, enter your Notice ID and Confirmation Code. This will pre-populate some of your information and verify that you are on the list of known eligible users. If you do not have these codes, there is usually an option to file a claim manually by providing your name, address, and the email associated with your account.
3. Provide Required Information
You will be asked to confirm your contact information and provide your current mailing address. This is critical because this address is where your check or electronic payment notification will be sent. You may also be asked to attest, under penalty of perjury, that you were an Illinois resident when you used the platform.
4. Choose Your Payment Method
Many modern settlements allow you to choose how you want to receive your money. Common options include a physical check, Venmo, PayPal, or a digital prepaid card. Selecting an electronic method can often lead to faster receipt of funds once the distribution begins.
5. Submit and Save Your Confirmation
After reviewing your information, click the submit button. You should be directed to a confirmation page that includes a claim number. Save this number for your records. It is your proof that you filed the claim and will be necessary if you need to contact the Settlement Administrator later.
Understanding the Timeline and Payouts
One of the most common questions regarding settlements is, “How much will I get and when will I get it?” It is important to have realistic expectations regarding the timeline and the final amount.
Estimated Payout Amounts
The total settlement fund is a fixed amount. From this fund, administrative costs, attorney fees, and incentive awards for the lead plaintiffs are deducted. The remaining balance is then divided equally among everyone who submits a valid claim. Because the final amount depends on how many people file claims, the exact payout per person cannot be determined until the filing deadline has passed. In similar BIPA settlements, payouts have ranged from a few hundred to over a thousand dollars, but this varies significantly based on the size of the class.
Important Deadlines
Every settlement has strict deadlines that must be followed. If you miss the deadline to file a claim, you will not receive a payment and you will give up your right to sue the company for these specific claims in the future. Check the official settlement website for the following dates:
- Claim Filing Deadline: The last day to submit your form.
- Exclusion Deadline: The last day to “opt-out” if you wish to sue the company individually.
- Objection Deadline: The last day to tell the court if you disagree with the terms of the settlement.
- Final Approval Hearing: The date the judge decides whether to give the final green light to the deal.
What Happens After You File?
After you submit your claim, there is a period of waiting. The Settlement Administrator must review all submissions to filter out fraudulent or duplicate claims. Once the filing deadline passes, the court holds a Final Approval Hearing. If the judge approves the settlement and there are no appeals, the distribution of funds begins.
The appeals process can sometimes delay payments for several months or even a year. However, if there are no complications, payments are typically sent out within 60 to 90 days after final approval. You can usually check the status of the settlement on the official website for updates regarding the distribution schedule.
Your Rights and Legal Options
By participating in the settlement, you are agreeing to a “release of claims.” This means you cannot sue Foris DAX or Crypto.com for any issues related to biometric privacy that occurred during the class period. If you have a significant individual legal issue and wish to pursue your own lawsuit, you must formally exclude yourself from the settlement by the exclusion deadline.
If you do nothing—meaning you don’t file a claim and you don’t exclude yourself—you will receive no money, but you will still be bound by the release of claims. This is why it is almost always in your best interest to either file a claim or formally opt-out.
Conclusion
The Foris DAX BIPA settlement is an opportunity for Illinois residents to receive compensation for potential privacy violations regarding their biometric data. While the legal process can take time, filing a claim is a simple and necessary step to ensure you receive your share of the settlement fund. Make sure to locate your Notice ID if you have one, choose your preferred payment method, and submit your claim before the official deadline.
Staying informed about your consumer rights is essential in the digital age. For more information on navigating online services, protecting your privacy, and understanding legal settlements, explore our other helpful articles on digital safety and consumer guidance.