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Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T

Judge Dismisses $200M Damages Claim in SIM-Swap Crypto Lawsuit Against AT&T

A California judge has dismissed the $200 million in damages claim against the telecom giant AT&T for alleged negligence and fraud. The judge still ruled the telecom company had to answer the lawsuit by Michael Terpin for enabling the theft of $24 million worth of his cryptocurrency after a company agent gave his sim card to hackers. Terpin filed the lawsuit in 2019. According to a report, Terpin accused the telecoms giant of “allowing hackers to swap his SIM card, in what appears to be an elaborate scheme by fraudsters.” Terpin, a crypto entrepreneur, also claims that AT&T’s lax security…

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Court Dismisses Crypto Theft Suit against AT&T, Claim for Damages Continues

Court Dismisses Crypto Theft Suit against AT&T, Claim for Damages Continues

A litigation involving crypto theft charges against telecom operator AT&T was recently trimmed down a California judge. However, the claim for damages worth $24 million will continue. Narrowing allegations A California judge overseeing litigation that accused AT&T of negligence, fraud, and other violations recently dismissed the case and narrowed the scope of the case. The $200 million damages claim has been dropped. The judge has allowed Michael Terpin to sue AT&T for the $24 million he lost owing to a SIM swap scam. He lost the money after a company agent was allegedly bribed by a criminal gang to enter…

Continue Reading Court Dismisses Crypto Theft Suit against AT&T, Claim for Damages Continues
Crypto Entrepreneur Sues T-Mobile Over SIM Swapping Attack

Crypto Entrepreneur Sues T-Mobile Over SIM Swapping Attack

SIM swapping attacks appear to be growing in popularity, as another major telecoms provider is getting roped into a lawsuit over possible complicity. This week, Reggie Middleton, the chief executive of crypto firm Veritaseum, filed a complaint with the United States District Court for the Eastern District of New York against T-Mobile, accusing the firm of enabling a SIM swapping attack against him. T-Mobile’s Insufficient Security Protocols SIM swap attacks aren’t a new phenomenon. They involve people who manage to use social engineering to tick telecoms companies into believing that they are their victim, thus obtaining confidential information — such…

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T-Mobile Charged Over $8.7M Stolen in SIM-Swap Spams

T-Mobile Charged Over $8.7M Stolen in SIM-Swap Spams

The CEO of a crypto firm that lately established with the SEC above its 2017 ICO is charging T-Mobile over a sequence of SIM-swaps that stemmed in the loss of $8.7 million value of crypto. Reggie Middleton, the chief executive of crypto company Veritaseum, is suing telecommunications provider T-Mobile for allegedly enabling the theft of $8.7 million worth of crypto in a series of SIM-swap attacks. Rendering to particles available on July 22, Middleton was first directed by SIM-swappers through July 2017. In spite of instantaneously reporting the event to T-Mobile, Middleton asserts to have been the victim of 4…

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