AT&T, T-Mobile sued over SIM swap crypto scams

The victims have lost funds to criminals that used SIM swapping fraud to infiltrate mobile devices to access cryptocurrency wallets and two-factor authentication codes. The law company claims that the telecom providers left holes in their security protocols and failed to properly train and monitor their employees, indirectly enabling fraudsters to access financial records and account information of the victims.

According to CojnDesk, Silver Miller said that one client, an AT&T customer, had had over USD 621,000 of cryptocurrency stolen via a SIM swap attack. Other cases have been filed against T-Mobile, with Silver Miller alleging that two clients had been robbed of USD 400,000 and USD 250,000, respectively, via SIM swaps ‘permitted’ by the telcom company.