AT&T Sued for Facilitating $24 Million Cryptocurrency Theft
Posted: Tue Aug 14, 2018 3:07 pm
Telecommunications company AT&T found itself on the end of a lawsuit this week after a customer accused them of allowing hackers to swap his SIM card, without his authorization, in what appears to be an elaborate scheme by fraudsters. The security breach resulted in the theft of cryptocurrency to the sum of millions of dollars.
Michael Terpin, a serial cryptocurrency entrepreneur and technology startup extraordinaire, claimed that the AT&T’s lack of security allowed hackers to enter his wireless account on January 7, 2018, and steal cryptocoins worth roughly $24 million.
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