AT&T Sued for $224M by Subscriber over SIM Hijacking and Cryptocurrency Theft

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Cryptocurrency investor and AT&T subscriber Michael Terpin has filed a $224 million suit against AT&T claiming fraud, gross negligence and invasion of privacy (among other claims). Terpin specifically claims that his mobile provider failed to protect him against SIM hijacking that allowed an international criminal gang and an insider to access Terpin’s account information and steal $23.8 million worth of cryptocurrency, despite AT&T allegedly having had prior issues with employees cooperating with hackers. In addition to the value of the cryptocurrency, Terpin is seeking $200 million in punitive damages. The case is Terpin v. AT&T Inc. et al. and currently is pending in the Central District of California.

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