The post AT&T faces $24M Crypto SIM swap case after court ruling appeared first on Coinpedia Fintech News
The Ninth Circuit Court has reinstated the case that crypto investor Michael Terpin launched against AT&T connected with a SIM swap in 2018 that led to the theft of $24 million in cryptocurrencies. The court found out that potentially AT&T not only strayed from the provisions of the Federal Communications Act, but also failed to protect Terpin’s SIM card data. Terpin is now asking for $45 million in the damages. This is a constant concern as of the SIM swap shenanigans and the role played by the telecom companies in protecting clients’ information literacy in the twenty-first century.
