Theft Of Cryptocurrency Provoked The Lawsuit Against At&T In The Amount Of $ 224 Million

Michael Terpin, an American entrepreneur and a crypto-trader, filed a lawsuit on Wednesday in the amount of $ 224 million against telecom giant AT&T, an American multinational telecommunications holding company headquartered at Whitacre Tower in Downtown Dallas, Texas, saying the company was involved in fraud and negligence when tokens were stolen from his personal account. An investor who filed a lawsuit in the US District Court in Los Angeles said that three million tokens were stolen on January 7th  of this year through “stealing the digital identity” of his mobile phone account, which is serviced by AT&T.

Terpin co-founder of Bitcoin Angel Investor Group BitAngels in 2013 and the BitAngels / Dapps Fund in 2014, currently is a senior adviser to the crypto hedge fund Alphabit Fund, which is one of the largest in the world.

Bitcoin News

Given the prices at the time of the theft, the stolen tokens cost almost $ 24 million, but Turpin also targets $ 200 million in punitive damages. In early January, when Terpin was robbed, the price of some  cryptocurrencies was close to its record high.

Turpin claims that the theft of tokens occurred through a so-called fraud with a SIM card that deceives the telecommunications provider by transferring the user’s phone number to a card owned by someone else. Once the criminal accesses the phone number, he can use it to reset the subscriber’s passwords and enter his personal account. He claims that after his cryptocurrencies were stolen, they were moved to an international criminal organization.


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