News

Court Revives AT&T SIM Swap Lawsuit Over $24M Crypto Theft

Key Points:

Court revives Terpin’s $24M AT&T SIM swap case, holding AT&T liable under Section 222.

The court revived the AT&T SIM swap case over the $24M crypto theft, with Terpin seeking $45M. The Ninth Circuit upheld the claim under Section 222 of the FCA.

Court Revives AT&T SIM Swap Lawsuit Over $24M Crypto Theft 2

AT&T Faces New Legal Battle Over SIM Swap Crypto Theft

AT&T is headed back to court following an appeals panel’s revival of partial claims in a $24M SIM-swap crypto theft case. Terpin said the operator had failed to protect his SIM card information.

The claims against AT&T after winning its motion for partial dismissal means it remains liable under Section 222 of the Federal Communications Act. Terpin is seeking $45 million in damages.

Michael Terpin’s $24M AT&T SIM Swap Case Against AT&T Revived

A class-action suit filed against AT&T by Michael Terpin, a crypto investor who experienced a $24M crypto theft through SIM swapping, finally gets in motion. Currently, only three of the initial 16 charges filed by Terpin remain in this particular case.

The Ninth Circuit held that Terpin’s state law claim under Section 222 survives because the FCA protects SIM card information to set some legal precedent for SIM swaps.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

William

In the fast-paced world of day trading, I've honed my skills for over six years using technical analysis tools and crafting short-term strategies. My expertise isn't from textbooks but from the trenches of online trading communities. I excel at reading chart patterns, applying technical analysis, and mastering risk management. "The market is about probabilities," I declare. As Editor at Coincu, I empower readers with the insights and strategies to conquer the dynamic world of day trading.