The Court Has Revisited the Case Against AT&T Regarding Cryptocurrency Theft
The U.S. Court of Appeals has reopened the case against AT&T, involving a fraud that resulted in $24 million in cryptocurrency being stolen in 2018. Almost all the charges against AT&T were dropped, except for one related to the violation of the Federal Communications Act (FCA).
In 2018, hackers, with the help of an AT&T employee, conducted a "SIM swap," allowing them to access the cryptocurrency accounts of investor Michael Terpin and steal his assets. Terpin sued AT&T and the hackers, securing $2 million in compensation from one of them and $75.8 million from another, who also received 18 months in prison.
Although the judge dismissed Terpin's $216 million lawsuit, he continues to demand $45 million from AT&T.
