BTC Wires

AT&T Sued by Crypto Investor Who Had Money Stolen Through Cell Phone Account

BTC Wires: AT&T is facing a lawsuit over a cryptocurrency theft that allegedly took place because of its negligence. Digital currency investor Michael Terpin has filed the lawsuit in question, alleging that the company’s negligent practices and violation of the promises it made in its privacy policy had led him to lose almost $24 million worth of digital currency. In addition, he has also accused the company of being in cahoots with the hackers and failing to fulfil its own statutory responsibilities.

According to the complaint put forward by Terpin, he was robbed of three million tokens in January by thieves who stole the digital identity of his cell phone account. At that time, his service provider was AT&T and the complainant is convinced that the company colluded with the hackers to give them access to his digital identity. He is certain that even if the company was not been complicit in this crime, their negligence was largely responsible for it having taken place.

Terpin claims that the hacker responsible was provided with his phone number which they then used to steal from his cryptocurrency accounts. The clearly infuriated complainant also said in the allegation that what  AT&T did was no better than hotels giving out room keys to robbers posing as guests, to burgle valuables belonging to the real guest and rightful owner.

AT&T responded with a formally versed reply, stating that they strongly dispute the allegations slung against them and that they would be only too willing to present their defence in court. Terpin is seeking quite a large amount of compensation from the telecommunications giant, $24 million of which is for compensatory damages and $200 million for punitive damages. It remains to be seen how the case plays out in court and how it affects the fortunes of the service provider.