AT&T, a leading American multinational telecoms operator and conglomerate holding company has been dragged to court by a customer who claims to had lost his entire life savings in cryptos due to a SIM swapping attack.
For those who are unaware, a SIM swapping attack allows bad actors to take over the mobile device of a person by exploiting some security loopholes like two-factor authentication and two-step verification.
According to the victim, the AT&T employee allowed the rogue actors to easily swap his phone number to another mobile device controlled by them, allowing them to access his highly sensitive personal and financial information.
Specifically, Shapiro claims the SIM swap made it possible for attackers to steal a total of more than $1.8 million from his cryptocurrency accounts on various exchanges including Coinbase, Huobi, Cryptopia, and others. Read More...