NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: LINK Price Climbs Following Chainlink's Deal With US Commerce Department, Eyes $30

Multi-Million Dollar AT&T Crypto Theft Lawsuit Progresses

Martin Young
Martin Young
6 years ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

A lawsuit involving stolen crypto and one of America’s largest mobile carriers is moving forward. The $224 million suit involved digital identity theft which resulted in one customer losing s substantial amount of cryptocurrency last year.

AT&T Blamed For SIM Swap Fraud

A Los Angeles federal judge rejected the telecoms giant’s request to have the lawsuit dismissed. The plaintiff, Michael Terpin, filed the 69 page complaint almost a year ago. According to CNBC, Terpin is seeking $200 million in punitive damages, and $24 million of compensatory damages from AT&T for his lost cryptocurrency.

AT&T has been accused of willing cooperation with the hacker, gross negligence, violation of its statutory duties, and failure to adhere to its own privacy policy. Lead counsel for the litigant, Pierce O’Donnell, stated:

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

Terpin is no crypto newbie having co-founded an angel group for Bitcoin investors called BitAngels in 2013. He claims to have been the victim of two hacks in seven months, both using AT&T which he alleges colluded with the perpetrators through insider information on his account.

The incursions were carried out through a method called SIM swapping whereby cyber criminals steal user’s phone numbers in order to log in to their crypto wallets and accounts. In this case the access was gained without AT&T staff requiring the hacker to show proof of identification or provide a valid password. Terpin stated:

“What AT&T did was like a hotel 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,”

Cyber security experts are advising those that deal with cryptocurrencies using their phones to guard the number the same way as they would a password or key phrase. The safest method of crypto storage is still a cold wallet as hacking methods become more sophisticated.

Crypto Hacking Still a Curse

According to American cyber security company CipherTrace, crypto exchange hacking is also still a scourge with exchanges already having lost $1.2 billion in the January-March period this year. The majority of this loot had been lifted from exchange based hot wallets, similar to those accessed in the AT&T case. Three Asian exchanges, Binance, Bitpoint, and Bitrue, have fallen victim to hackers so far this year.

The rejection of AT&T’s attempt at dismissal is good news for crypto security as a whole and will have a greater impact if the plaintiff is awarded any damages as a result of negligence on the security front from one of the world’s largest telecoms companies.

Image from Shutterstock
Tweet123Share216ShareSend
Martin Young
Martin Young

Martin Young

Martin is a Southeast Asia based info-tech, cyber security, and cryptocurrency analyst with 20 years working in web technology and media.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin

Bitcoin Risks Deeper Losses If $107,800 Line Fails To Hold – Details

Since reaching a new all-time high of $124,427 on August 14, Bitcoin has entered a prolonged corrective phase, losing 12.18%...

Semilore Faleti 15 hours ago

5 Underrated Crypto Projects Bursting With Potential

There are tens of thousands of different cryptocurrencies in the world, and many of them are surely destined to fail....

NewsBTC 15 hours ago
Bitcoin price

Bitcoin Price Lags Below $110K — On-Chain Levels To Watch

The Bitcoin price has had a mixed performance in August, starting with a positive run-up to a new all-time high...

Opeyemi Sule 14 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

xrp-breakout-trigger-100x-altcoin-launch-tw

XRP價格臨界爆升技術測試點 這個百倍山寨幣是否已經開始啟動?

markh 2 hours ago
Bitcoin price

Bitcoin Price Closes Below STH Realized Price For The 2nd Time In 2025 — Details

Opeyemi Sule 13 hours ago
ETF

ETH And BTC ETFs Reverse Gains With $291M In Outflows Ahead Of New Week

Scott Matherson 14 hours ago

Premium Sponsors

Press Releases

  • Mova Gala: Mainnet Activation — Ushering in a New Era of...

    4 hours ago
  • Token6900FTRD

    仮想通貨 1000倍...

    8 hours ago
  • HyperFTRD

    Bitcoin Hyper Presaleが1300万ドル突破 – ico...

    8 hours ago
  • MARAのAI参入と6BドルのBTC保有が示す次の波 – Bitcoin Hyperとミームコイン市場の可能性

    仮想通貨...

    8 hours ago
  • ミームコインと2025年最高の仮想通貨プレセール:BlockchainFXが620万ドル調達、TOKEN6900やMaxi Dogeを圧倒

    ...

    8 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.