AT&T Once Again Sued Over SIM-Swapping Cryptocurrency Theft

12593556_10205735480657537_3835976740831778163_o
Priyanka Kulkarni
Priyanka Kulkarni, post-graduated in Business Administration holds worthy experience in market research and investment banking. She is passionate to flaunt her perception towards cryptocurrencies.
  • The popular US cellular network AT&T sued for the second time over the alleged SIM-swapping case.
  • Per sources, Shapiro’s claim involves $1.9 million of theft. Along with the compromise of his personal and financial information when he was in New York.
  • Shapiro’s claim follows the footsteps of Michael Terpin’s case who sued AT&T in 2018 for almost the same purpose.

The popular US cellular network AT&T sued for the second time over the alleged SIM-swapping case. The plaintiff, who is also an advisor in business and technology, Seth Shapiro recently claimed that AT&T has mishandled his number transfer. That made him lose his life savings of around $1.9 million in cryptocurrency.

The claim involves millions of cryptocurrency theft

Advertisement


Per sources, Shapiro’s claim involves $1.9 million of theft. Along with the compromise of his personal and financial information when he was in New York. Meanwhile, the accounts linked to his phone number on crypto trading platforms such as KuCoin, Bitfinex, Coinbase, and HitBTC were allegedly compromised.

Shapiro’s claim follows the footsteps of Michael Terpin’s case. Who sued AT&T in 2018 for almost the same purpose.

However, Terpin’s case was allowed by the court to proceed further but Shapiro is still battling to get his legal challenge at its first stage. Also, received approval by the judge for trial.

Besides this, SIM swapping attacks is one of the popular scams of reaping funds from the victims. Usually, it includes social engineering techniques. For example, the attacker impersonates as a victim and by utilizing previously stolen information to support their case.

Two AT&T employees charged under criminal investigation

Shapiro is a technology advisor who has worked in significant companies such as Disney and Showtime. Moreover, two employees of AT&T were charged in this issue alleging they have assisted the crooks to shift Shapiro’s contact number.

But, Shapiro is looking for his money back by suing AT&T for an egregious violation of the law. Interestingly, just like the Terpin case, AT&T allegedly notified Shapiro it would set up special precautionary measures to avoid any SIM hijackings.

Hot News

XRP’s Bearish Trend Proves Why It is One of the Preferred Cryptocurrencies

Popular altcoins such as Ethereum, XRP, Cardano, Chainlink, and Dogecoin observed their trading price soaring since the start of the month. XRP’s price...

Australian Woman Behind $300,000 Worth XRP tokens Theft Sentenced to 2 Years of Jail

Women committed this crime with the help of an associate where they stole more than $300,000 in fiat value in the form of...

Mining Stocks Explode Amidst The Bitcoin Rally

Nasdaq reported Marathon Patent Group's stock touched a new 52 week high.  MARA shares appreciated 50% and traded at $3.04, prior to which...

Federal Reserve’s Measures On Inflation May Directly Influence BTC’s Adoption

Federal Reserve of the United States said that in the coming months they will deliver a strong framework on low rates as it...

Ethereum Classic (ETC) CEO’s Statement on Recent Attacks

Terry Culver, CEO of ETC labs announced that the future of ETC is still a vibrant one. A reorganization of 3693 blocks has...

Vitalik Buterin vs Forsage Twitter War on Ethereum Scam

Philippines' Securities and Exchange Commission (SEC) declared Forsage as a Ponzi. Vitalik Buterin demanded that Forsage leaves, and stops polluting the Ethereum ecology...

Partners

RELATED NEWS

XRP’s Bearish Trend Proves Why It is One of...

Popular altcoins such as Ethereum, XRP, Cardano, Chainlink, and Dogecoin observed their trading...

Australian Woman Behind $300,000 Worth XRP tokens Theft Sentenced...

Women committed this crime with the help of an associate where they stole...

Mining Stocks Explode Amidst The Bitcoin Rally

Nasdaq reported Marathon Patent Group's stock touched a new 52 week high.  MARA...