AT&T faces legal action due to SIM swap attacks suffered by encrypted investors
ChainCatcher news, according to Cointelegraph, AT&T will once again face allegations of failing to protect user information, as a previous favorable partial summary judgment has been overturned on appeal.The case began in 2020 when cryptocurrency investor Michael Terpin sued a recent high school graduate, accusing him of stealing $24 million worth of cryptocurrency from Terpin through SIM card swapping. By using SIM card swapping, Pinsky bypassed the two-factor authentication protecting one of Terpin's crypto wallets.In 2018, at just 15 years old, Ellis Pinsky and his accomplices bribed an AT&T employee to transfer Terpin's SIM card information to a blank card on their phones. The lengthy and complex legal battle earned Pinsky the nickname "Baby Al Capone" and embroiled him in a potentially landmark case against AT&T.According to Terpin's lead attorney, Pierce O'Donnell, Terpin will now seek "24 million dollars plus at least 14 million dollars in interest and attorney fees, totaling at least 45 million dollars in claims against AT&T."