U.S. Law Firm Files Claims Against AT&T, T-Mobile Within SIM Swap-Enabled Crypto Thefts

U.S. crypto investor law firm Silver Miller has filed arbitration claims against telecoms giants AT&T and T-Mobile on behalf of crypto holders who suffered thefts because of ldquo;SIM-swaps. ”
U.S. crypto investor law firm Silver Miller has filed arbitration claims against telecoms giants AT&T and T-Mobile for “SIM-swap”-related thefts, according to a press release published Nov. 8SIM-swapping — also known as a ‘port-out scam’ — involves the theft of a cell phone number to be able to hijack online financial and societal networking reports, enabled by the simple fact that many businesses utilize automatic messages or phone calls to handle client authentication.According to among these (partly redacted) Silver Miller Statement of Claim documents — registered from AT&T on behalf of crypto holders who allegedly suffered thefts through sim-swapping — the Dallas-based telecoms “behemoth” had operating earnings of over $160 billion and assets of over $444 billion as of 2017. The claim alleges “as a consequence of AT&T’s failures,” Silver Miller’s client has been robbed of crypto asset holdings worth over $621,000 in a SIM swap, even following AT&T had assured him it had increased security on his account following an earlier attempted hack.As Silver Miller contends, AT&T is well-aware of the “pervading harm” posed by SIM-swaps, with murdered “public advisories” in the past cautioning that the danger is “industry-wide” and reassuring the public of its defenses from the practice.AT&T is now accused of behaving “because a co-conspirator to the theft or via abject neglect ” by shifting the account holder’s cell phone number to the attacker, and “exhibiting bad faith via its conscious sense of and deliberate indifference to the threat to Claimant’s Personal Information. ”According to Silver Miller, AT&T’s failures further comprised “improperly hiring, training, and managing its employees,” & “neglecting to invest in sufficient security protections. ”Depending on this media release, other cases registered by the firm from T-Mobile pertain to victims who lost  $400,000 and $250,000 respectively, in comparable SIM-swap incidents.This summer, Cointelegraph interviewed Michael Terpin, an American blockchain and long-time crypto investor, who has sued AT&T for neglect which allegedly led to the theft of over $24 million in crypto holdings.Terpin, who co-founded BitAngels in 2013 and, even more recently, blockchain PR firm Transform Group, emphasized many “smaller” crypto tokens can’t be stored in cold storage, which — particularly if staked — they must be kept in a native pocket. They are consequently prone to negligence, or even alleged complicity from the gatekeepers of user identity information. He guided investors to utilize a “Google voice” number, as:“[Y]ou need to have something that doesn’t have a retail store in which a $10-an-hour employee can be bribed to give up your information and your electronic life. &rdquo […]

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