AT&T Charged $224M in Cryptocurrency Theft Case, Plaintiff has Already Recovered $75M


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AT&T Charged $224M in Cryptocurrency Theft Case, Plaintiff has Already Recovered $75M

The Federal Court in California had accepted a case against AT&T accused of SIM swapping which led to the theft of cryptocurrencies last year. The plaintiff, Michael Terpin has filed the case against the US telecom giant last year. Terpin has accused AT&T of enabling the hackers in obtaining duplicate SIMs for Terpin’s number.

Terpin’s lead Counsel Pierce O’Donnell, a partner with Greenberg Glusker Fields Claman & Machtinger in Los Angeles, has claimed in a press release,

“The evidence will show that AT&T not once, but twice allowed hackers posing as Michael to obtain his SIM card,”

Terpin has accused AT&T of ‘digital identity theft’ and also suspected insider employees ‘cooperating with the hackers who helped them attain a new SIM to Micheal’s phone number. The hackers then used the numbers to access the cryptocurrency store in it. AT&T can also be charged here with negligence and non-compliance with privacy laws.

Moreover, as reported earlier on CoinGape, Micheal Terpin has already won the case against the actual thief who stole his cryptocurrencies. The accused, 21-years old Nicholas Truglia was fined around $75.8 million.

Furthermore, while the total amount of the cryptocurrency led from Michael’s account equaled only $24 million at the time of filling. Terpin has filed for $200 million in punitive damages from AT&T.

However, the telecom firm finds these claims disputed and asked for the dismissal of the case. However, the court has rejected the telecom giant’s plea and the case will in fact be heard. An AT&T official told the media,

“We dispute these allegations and look forward to presenting our case in court,”

Do you think that Federal Court will find AT&T guilty in the case hearing? Please share your views with us.

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AT&T Charged $224M in Cryptocurrency Theft Case, Plaintiff has Already Recovered $75M
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AT&T Charged $224M in Cryptocurrency Theft Case, Plaintiff has Already Recovered $75M
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The Federal Court in California had accepted a case against AT&T accused of SIM swapping which led to the theft of cryptocurrencies last year. The plaintiff, Michael Terpin has filed the case against the US telecom giant last year. Terpin has accused AT&T of enabling the hackers in obtaining duplicate SIMs for Terpin's number. 
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Disclaimer The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Author: Nivesh Rustgi

Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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Nivesh Rustgi 528 Articles

Nivesh from Engineering Background is a full-time Crypto Journalist at Coingape. He is an atheist who believes in love and cultural diversity. He believes that Cryptocurrency is a necessity to deter corruption. He holds small amounts of cryptocurrencies. Faith and fear are two sides of the same coin. Follow him on Twitter at @nivishoes or mail him at nivesh(at)coingape.com

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