AT&T Faces Lawsuit for Role in Crypto Theft

In what is the latest in a pattern of similar cases, a resident of the United States has sued one of the countrys foremost telecom giants, AT&T. The customer, Jamarquis Etheridge, who is a Texas resident, alleged that the company was responsible for the SIM swap attack that cost him a substantial amount in crypto assets.

According to the suit filed by the plaintiff before the Texas District Court, he claims that the company failed in its responsibility to adequately secure his wireless account and prevent it from any unauthorised access by prospective attackers.

The attack in question happened around the 10th of September. Yet to be identified actors reportedly accessed the plaintiff’s account draining all the assets in his crypto account in the process.

Etheridge also claimed that the company was so slow, it didn’t respond until the next day.

A further insight into how the attack occurred revealed that throughout this period, he was unable to use the cell phone number option as a tool to mitigate the attack.

All these shortcomings contributed to a loss of 159.8 in ETH. This crypto is worth approximately $560,000 at the time.

In the filing, Ethridge is seeking for a compensation for the exact sum of the ETH that was stolen by the attackers from the company.

This case by Etheridge is the latest in a series of similar one against the company.

Another crypto investor, Seth Shapiro, had also dragged the company to court in December 2019. In his case, he alleged that failure by the company to protect its customers cost him $1.8 million in crypto.

Likewise, Michael Terpin, claimed he lost $24 million in crypto as a result of AT&Ts negligence in 2018 in a similar attack.

Later that year, a resident of California, Robert Ross lost $1 million worth of crypto after a hacker was able to gain control of his AT&T phone.

The telecoms giant has pushed back against previous lawsuits and is likely to do so with this latest one.

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