Michael Terpin has been attempting to bring the action against AT&T for its alleged liability in a SIM-swap hack.
An alleged SIM swapper purportedly used the proceeds from stolen crypto to buy royalties to rap music, fancy cars and gold jewelry, court documents show.
Mobile network AT&T intends to defend allegations made by a customer regarding its alleged role in a SIM swap scam.
AT&T is at the center of yet another SIM swap incident and this time, the victim lost $1.8M in crypto from several exchanges.
A California man claimed AT&T employees helped to swap the SIM card in his phone to perpetuate the theft of his cryptocurrencies valued at $1.8 million.
Investor Michael Terpin lost a reported $24 million when AT&T gave unwarranted access to a SIM card he owned to hackers.
AT&T becomes the first major telecommunications carrier to accept crypto payments from their customers.
Many crypto attacks seem to be focused on cloud infrastructures. Organizations of all sizes continue to face significant crypto mining attacks despite the ongoing bearish market.