AT&T Walks Clean in Multi-Million Dollar Crypto Theft Trial, Investor Michael Terpin Surprised by Verdict – AT&T (NYSE:T)

After a trial lasting nearly six years AT&T Inc. Tea Has won a lawsuit filed by a cryptocurrency investor Michael Terpin On his loss of millions in digital assets due to SIM-swapping hack.

The Central District Court of California granted AT&T’s motion for summary judgment, saying there was no evidence to support Terpin’s claims against the company.

In mid-2017, hackers allegedly used an AT&T employee to swap Terpin’s SIM settings with their own, stealing $24 million. cryptocurrency By changing her phone number, resetting the password, and sending a 2FA message to the new phone.

Terpin filed suit in 2018 seeking $240 million.

The court found no evidence to support the claims against AT&T for negligence, breach of contract, and violation of the Communications Act.

Despite Judge Otis Wright II initially allowing some of Terpin’s claims to proceed into 2020, the court has now barred him from recovering any damages, and all dates and deadlines for the case have been vacated. Is.

In an email response to Benzinga, Terpin said he was surprised and appalled by the decision because the court had twice previously declined to dismiss the case.

“It is a sad day in America when the victim of a $24 million blatant internet theft, uniquely enabled by AT&T, a communications giant, is denied his day in court. Our country is a country of laws. AT&T has Violated multiple laws, covered up this chaos, and then spent five years trying to bury me in motions designed to delay and increase costs.

“I intend to appeal immediately to the Ninth Circuit, where I am confident I will prevail. This is an important case involving the rights of all consumers who are entitled to have their data protected. It has implications for hundreds of other cases.” There is a cascading effect. And there is a need for trial by jury, not to be swept under the carpet of thin judicial opinion,” he said.

Photo: shutterstock

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