Crypto Investor Sues AT&T After $24 Million Loss From SIM Swap Hack
Terpin adds that his cryptocurrency was stolen through means of digital identity theft. The two reported hacking events, which occurred during the time Terpin utilized AT&T as his primary service provider, were approximately seven months apart.
Following the initial hack, Terpin suspects an impostor was granted access to his phone number with the aid of an insider cooperating with a hacker. The information was supposedly collected without an AT&T store employees requiring the potential hacker to show valid identifications or passwords.
The phone number was later used to gather access to Terpin’s digital assets, including cryptocurrency accounts, according to the complaint. Terpin described the situation as being akin to “giving a thief with a fake ID a room key and a key to the room safe to steal jewelry in the safe from the rightful owner.”
AT&T has responded to the allegations in an email statement pledging, “we dispute these allegations and look forward to presenting our case in court.”
More: Cryptocurrency Entrepreneur and Investor Michael Terpin Sues AT&T for Permitting $23.8 Million Theft in “SIM Swap” Scam by Authorized Agent
Photo: Mike Mozart / Flickr
Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.