U.S. Investor Robbed Via his Cell-phone Sues AT&T for $224 Million Theft

U.S. Investor Robbed Via his Cell-phone Sues AT&T for $224 Million Theft

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August 16, 2018 by Jane
1806
On Wednesday, U.S. investor filed a $224 million lawsuit against AT&T  accusing the telecommunications giant of negligence that allegedly caused the California resident to lose roughly $24 million in cryptocurrency. According to CNBC, California resident Michael Terpin has filed a 69-page complaint against AT&T in U.S. District Court in Los Angeles. Michael Terpin claimed that “AT&T’ failed to
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On Wednesday, U.S. investor filed a $224 million lawsuit against AT&T  accusing the telecommunications giant of negligence that allegedly caused the California resident to lose roughly $24 million in cryptocurrency.

According to CNBC, California resident Michael Terpin has filed a 69-page complaint against AT&T in U.S. District Court in Los Angeles. Michael Terpin claimed that “AT&T’ failed to adhere to its  Privacy Policy, they corporated with hackers to defraud him of nearly $24 million worth of cryptocurrency.

Terpin alleges the theft of his digital assets was a form of digital identity theft which criminals make use of by performing a SIM swap on the victims’ cell phone.

In an emailed response, an AT&T spokesman said: “We dispute these allegations and look forward to presenting our case in court.

SIM swapping consists of tricking a provider into transferring a subscriber’s phone number to a SIM card controlled by someone else. Once that person gets the phone number, it can be used to reset the subscriber’s passwords and access online accounts.

 

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