U.S. Investor Robbed Via his Cell-phone Sues AT&T for $224 Million Theft
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.
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.
— Alex Otsu (@Brotsu) August 16, 2018
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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