Last week, Trend Micro analysts talked about the growing number of offers of Bitcoin ATM hacking software, which would cost $25,000 to cybercriminals.
Hacking an ordinary smartphone is sometimes more expensive than getting access to a BTC ATM. However, in some cases, the game is worth a punt - for example, last year on several occasions, hackers have cracked the smartphone of Bitangels co-founder Michael Terpin and stole a total of $24 million from his wallet. Now the businessman filed a lawsuit against the telecom giant AT&T for the same amount, accusing the company of assisting hackers.
Somebody needed to sue AT&T for fraud & gross negligence in letting criminals SIM swap. I just did: https://t.co/02JoNOOZrV #bitcoin
— Michael Terpin (@michaelterpin) August 15, 2018
In a 69-page lawsuit filed by Terpin in a New York state court, the investor blames company employees for helping hackers. According to him, only thanks to the help of an ‘insider’ from AT&T, an attacker managed to access his SIM-card and request an SMS-password to confirm access to the cryptocurrency purse.
Imagine that you have a hotel. You give the criminal a key to the safe, in which the client left a large sum of money so that he took it. That's what AT&T did according to Terpin.
In addition to the return of $24 million, Terpin requires the company to compensate him with $200 million. The investor recalled that AT&T had repeatedly been accused of manipulating SIM cards, and now "it's time for the company's management to answer for it."
A representative at AT&T replied that the company does not agree with the accusations of the co-founder Bitangels and intends to file a counterclaim to the entrepreneur. What will come of it - time will tell.