A California judge has dismissed the $200 million in damages claim against the telecom giant AT&T for alleged negligence and fraud. The judge still ruled the telecom company had to answer the lawsuit by Michael Terpin for enabling the theft of $24 million worth of his cryptocurrency after a company agent gave his sim card to hackers. Terpin filed the lawsuit in 2019.

According to a report, Terpin accused the telecoms giant of “allowing hackers to swap his SIM card, in what appears to be an elaborate scheme by fraudsters.” Terpin, a crypto entrepreneur, also claims that AT&T’s lax security “allowed hackers to enter his wireless account and steal crypto coins worth roughly $24 million.”

For its part, AT&T argues “that it is not responsible for a series of recent SIM-swapping complaints.” Still, the telecom giant details the security thresholds it applied specifically to Terpin’s account and they include placing the “account on a higher security level with special protection.”

According to AT&T, this security…

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Source: https://news.bitcoin.com/judge-dismisses-200m-damages-claim-in-sim-swap-crypto-lawsuit-against-att/