Bitangels Co-Founder Sues AT&T for $224 Million Over Cryptocurrency Hack

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The cryptocurrency investor Michael Terpin is suing the large telecom firm AT&T because his mobile phone was compromised by hackers who stole $24M USD worth of digital assets. Terpin says he was hacked twice in less than a year and employees at AT&T participated in a SIM swap fraud. Also read: Fivebucks.com: Meet the Freelancer’s Marketplace Powered by Bitcoin Cash $24 Million in Digital Assets Stolen: Michael Terpin Blames AT&T Michael Terpin Michael Terpin the co-founder of Bitangels says he lost close to $24 million in cryptocurrencies, and he’s blaming the giant communications company AT&T. The 69-page lawsuit filed by the LA-based law firm Greenberg Glusker details that Terpin believes AT&T employees were involved in a SIM swap fraud which cost him the loss of a large number of digital assets. Major telecom services like AT&T, Verizon, and T-Mobile have all been accused of PIN and SIM swap fraud alongside alleged data breaches. According to Terpin an “insider” from AT&T cooperated with a malicious hacker. “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,” the complaint reads. According to an email statement,  AT&T says they “dispute the allegations” and they “look forward to presenting their case in court.” Failure to Adhere to Privacy Commitments Not only does Terpin want his $24 million back but the investor also wants $200M in punitive damages. Terpin says within pages…
Source: Bitangels Co-Founder Sues AT&T for 4 Million Over Cryptocurrency Hack

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