{"id":1447,"date":"2018-11-09T08:01:22","date_gmt":"2018-11-09T08:01:22","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/?p=1447"},"modified":"2023-06-09T12:09:52","modified_gmt":"2023-06-09T12:09:52","slug":"u-s-law-firm-files-claims-att-t-mobile-sim-swap-enabled-crypto-thefts","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/u-s-law-firm-files-claims-att-t-mobile-sim-swap-enabled-crypto-thefts\/","title":{"rendered":"U.S. law Firm Files Claims Against AT&T, T-Mobile Over SIM Swap-Enabled Crypto Thefts"},"content":{"rendered":"

U.S<\/a>. crypto investor law firm Silver Miller has filed arbitration claims against telecoms giants AT&T and T-Mobile for \u201cSIM-swap\u201d-related thefts, according to a press release\u00a0published<\/a>\u00a0Nov. 8<\/p>\n

SIM-swapping \u2013 also known as a \u2018port-out scam\u2019 \u2013 involves the theft of a cell phone number in order to hijack online financial and social media accounts, enabled by the fact that many firms \u00a0use automated messages or phone calls to handle customer authentication.<\/p>\n

According to one of the (partially redacted) Silver Miller Statement of Claim\u00a0documents<\/a>\u00a0\u2013 filed against AT&T on behalf of crypto holders who allegedly suffered thefts via sim-swapping \u2013 the Dallas-based telecoms \u201cbehemoth\u201d had operating revenues of over $160 billion and assets of over $444 billion as of 2017.<\/p>\n

The claim alleges that \u201cas a result of AT&T\u2019s failures,\u201d Silver Miller\u2019s client was robbed of crypto asset holdings worth over $621,000 in a SIM swap, even after AT&T had assured him it had heightened security on his account following an earlier attempted hack.<\/p>\n

As Silver Miller contends, AT&T is well-aware of the \u201cpervasive harm\u201d posed by SIM-swaps, having issued \u201cpublic advisories\u201d in the past warning that the threat is \u201cindustry-wide\u201d and assuring the public of its safeguards against the practice.<\/p>\n

AT&T is accused of acting \u201cas a co-conspirator to the theft or through abject negligence\u201d by transferring the account holder\u2019s cell phone number to the attacker, and \u201cexhibiting bad faith through its conscious awareness of and deliberate indifference to the risk to Claimant\u2019s Personal Information.\u201d<\/p>\n

As per Silver Miller, AT&T\u2019s failures further included \u201cimproperly hiring, training, and supervising its employees,\u201d and \u201cfailing to invest in adequate security protections.\u201d<\/p>\n

According to the press release, other cases filed by the firm against T-Mobile pertain to victims who lost \u00a0$400,000 and $250,000 respectively, in similar SIM-swap incidents.<\/p>\n

This summer, Cointelegraph\u00a0interviewed<\/a>\u00a0Michael Terpin, an American blockchain and long-time crypto investor, who has sued AT&T for negligence that allegedly resulted in the theft of over\u00a0$24 million<\/a>\u00a0in crypto holdings.<\/p>\n

Terpin, who co-founded BitAngels in 2013 and, more recently, blockchain PR firm Transform Group, emphasized that many \u201csmaller\u201d crypto tokens cannot be kept in cold storage, and that \u2013 particularly if staked \u2013 they must be kept in a native wallet. They are thus more vulnerable to negligence, or even alleged complicity by the gatekeepers of user identity data. He advised investors to use a \u201cGoogle voice\u201d number, as:<\/p>\n

\u201c[Y]ou have to have something that does not have a retail store where a $10-an-hour employee can be bribed to give up your information and your digital life.\u201d<\/p>\n","protected":false},"featured_media":1795,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news_categories":[10],"class_list":["post-1447","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry","news_categories-uncategorized"],"acf":[],"yoast_head":"\nU.S. law Firm Files Claims Against AT&T, T-Mobile Over SIM Swap-Enabled Crypto Thefts - SilverMillerLaw.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/u-s-law-firm-files-claims-att-t-mobile-sim-swap-enabled-crypto-thefts\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. law Firm Files Claims Against AT&T, T-Mobile Over SIM Swap-Enabled Crypto Thefts - 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