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T-Mobile was ordered to pay $33 million due to theft of Crypto Assets caused by a "SIM card swap attack."
ChainCatcher news, according to a report by Greenberg Glusker, T-Mobile is facing cryptocurrency theft due to "multiple security vulnerabilities" that led to SIM card swapping attacks. The law firm Greenberg Glusker announced on March 20 that it has obtained a $33 million arbitration award against T-Mobile. The arbitration took place in the fall of 2023 and involved 12 days of testimony. According to Greenberg Glusker, the arbitration panel found that T-Mobile was responsible for multiple security failures that led to SIM card swapping attacks, resulting in the theft of Crypto Assets.