Victims Sue AT&T, T-Mobile Over 'SIM Swap' Crypto Hacks

Neutral Victims Sue AT&T, T-Mobile Over 'SIM Swap' Crypto Hacks

Silver Miller. a cryptocurrency-focused law firm based in the U.S., says it has filed arbitration claims against AT&T and T-Mobile on behalf of victims of "SIM swapping" cellphone hacks.

Initiating the court actions on behalf of clients that have lost funds to criminals that used the increasingly common method of infiltrating mobile devices to access cryptocurrency wallets and two-factor authentication codes, the firm alleges:

"By leaving holes in their security protocols and failing to properly train and monitor their employees, cellphone providers have assisted thieves in remotely taking over the SIM cards in people's smartphones, accessing financial records and account information of the victims, and emptying the victim's accounts of cryptocurrency and other valuable assets."

In a press release published Friday, Silver Miller said that one client, an AT&T customer, had had over $621,000 of cryptocurrency stolen via a SIM swap attack. The firm further alleges that the breach occurred after AT&T "had assured him it had increased security on his account following an earlier attempted hack."

Other cases have been filed against T-Mobile, with Silver Miller alleging that two clients had been robbed of $400,000 and $250,000, respectively, via SIM swaps "permitted" by the telcom firm.

While the service exists for legitimate reasons, such as SIM card damage or switching providers, SIM swapping can also allow criminals to arrange for a telecoms company to reassign a user's account to another SIM, allowing full access to all calls, messages and notifications.

Silver Miller said that all it takes for a swap to be arranged "a persuasive plea for assistance, a willing telecommunications carrier representative, and an electronic impersonation of the victim."

In a recent report from Krebs on Security, the REACT Task Force in California indicated that SIM swapping is rapidly increasing as a popular tool for hackers.

Samy Tarazi, a sergeant at the Santa Clara County Sheriff's office and a REACT supervisor, was quoted as saying:

"For the amounts being stolen and the number of people being successful at taking it, the numbers are probably historic. We're talking about kids aged mainly between 19 and 22 being able to steal millions of dollars in cryptocurrencies."

SIM card image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

11/09/2018 / 12:10:33 Source: coindesk

BTC
1 BTC=$6,336.44
XRP
1 XRP=$0.5111
ETH
1 ETH=$206.87
XUC
1 XUC=$3.88
BCH
1 BCH=$522.95
EOS
1 EOS=$5.30

News Feed 50

Cryptonewsreview Neutral - How the next financial crisis is set to see people turn to cryptocurrency read more.
11/12/2018 / 05:55:14
Ccn Neutral - Cardano, Zcash, Stellar Surge Prior to Coinbase Listing; XLM up 27% read more.
11/12/2018 / 05:52:22
Bitcoin.Com Neutral - South Korea’s Upbit to Launch Exchanges in Thailand and Indonesia read more.
11/12/2018 / 05:45:43
Cryptonewsreview Negative - Bitmain on the warpath against hacker – and has filed a lawsuit too read more.
11/12/2018 / 05:40:42
Coinnounce Neutral - Zeniex Crypto Exchange closing down after crackdown by Korean Authorities read more.
11/12/2018 / 05:32:00
Cryptonewsreview Neutral - How one of the world’s largest banks is turning to Ripple again read more.
11/12/2018 / 05:31:45
Livebitcoinnews Neutral - Germany’s BaFin Shuts Down Crypto-Capitals’ Cross Border Crypto Trading Operations read more.
11/12/2018 / 05:30:51
Coindesk Neutral - IBM Says Blockchain Can Power 'Open Scientific Research' in New Patent Filing read more.
11/12/2018 / 05:00:28
Coinnounce Neutral - #Bitcoin Cash Price Analysis: BCH on a fall ahead of hardfork read more.
11/12/2018 / 04:56:51
Newsbtc Neutral - #Bitcoin Cash Price Analysis: BCH/USD Extending Losses Towards $500 read more.
11/12/2018 / 04:28:04
Livebitcoinnews Neutral - William Shatner Offers Support for Vitalik Buterin read more.
11/12/2018 / 04:00:18
Cryptoglobe Neutral - South Korean Crypto Exchange Pure Bit Exit Scams After Raising 13,000 ETH read more.
11/12/2018 / 02:30:37
Newsbtc Neutral - #Bitcoin Price Analysis: BTC/USD Increasing Demand ahead of BCH Hard Fork read more.
11/12/2018 / 02:15:42
Newsbtc Neutral - XLM/USD, ADA/USD Gains Setting Pace for Inevitable Altcoin Price Recovery read more.
11/12/2018 / 02:00:22
Ccn Neutral - Activists Use Crypto to Protect ‘Rap Against Dictatorship’ from Government Censorship read more.
11/12/2018 / 01:44:58
Livebitcoinnews Neutral - And They Say Crypto is Criminal! Investors Sue 16 Big Banks Over Alleged Foreign Exchange Market Manipulation read more.
11/12/2018 / 01:30:30
Bitcoinist Neutral - Without a Digital Currency, Sweden Faces the Privatization of Money read more.
11/12/2018 / 01:00:35
Ccn Neutral - Bitcoin Accepted Here: Major US Museum Now Takes Crypto Payments read more.
11/12/2018 / 00:30:04
Cryptoglobe Neutral - Iran's Rial-Supported National Crypto to Go to Commercial Banks as Sanctions Grow read more.
11/11/2018 / 23:30:44
Ccn Neutral - What Bear Market? Major Bitcoin Mining Farm Goes Live in Canada read more.
11/11/2018 / 23:15:31
Livebitcoinnews Neutral - Bitcoin Mining Giant Bitmain Sues “John Doe” Binance Hacker Over $5.5 Million BTC Theft read more.
11/11/2018 / 23:00:15
Cryptoglobe Neutral - EOS Gets Its First Stablecoin: CarbonUSD (CUSD) read more.
11/11/2018 / 22:50:45
Ccn Neutral - Binance CEO: Market Still in Good Position — Real Crypto Volume 2x Larger Than Reported Stats read more.
11/11/2018 / 22:11:04
Livebitcoinnews Neutral - Ripple Technology to Power International Payment Corridor Between Japan and Brazil read more.
11/11/2018 / 21:00:23
Cryptoglobe Neutral - Crypto Africa Roundup: Why South Africans Buy Crypto, Zambian Authorities Shut Down Scam read more.
11/11/2018 / 21:00:00
Themerkle Neutral - Bitcoin Price Watch: As a Store-of-Value, Bitcoin Is Unbeatable read more.
11/11/2018 / 19:47:51
Cryptoglobe Neutral - Fork Wars: Bitcoin Cash SV Surges as Craig Wright Reveals 50%+ of Hashpower Support It read more.
11/11/2018 / 19:35:42
Ccn Neutral - Lawyer: Ripple Bumping Securities Lawsuit to Federal Court is Brilliant read more.
11/11/2018 / 19:34:08
Bitcoinist Neutral - BCH Hard Fork: Bitcoin SV Winning ‘Hash War’ Against Bitcoin ABC read more.
11/11/2018 / 19:00:18
Bitcoin.Com Neutral - Vietnam at Crossroads on Cryptocurrency Regulations read more.
11/11/2018 / 19:00:04
Cryptopotato Neutral - Why is it Crucial to Solve the Security-Complexity Relation for Fast Track Adoption? read more.
11/11/2018 / 18:54:22
Themerkle Neutral - Bitcoin Cash Price Dips Below $525 as Bitcoin SV Starts Pumping read more.
11/11/2018 / 18:20:20
Livebitcoinnews Negative - Swedish Man Mails Bomb to Bitcoin Exchange Over Lost Password, Sentenced to 7 Years in Prison read more.
11/11/2018 / 18:00:07
Ccn Neutral - Crypto Market Stable as Bitcoin Stabilizes at $6,350, Decentraland Surges 10% read more.
11/11/2018 / 17:25:23
Coinnounce Neutral - Illegal Trading by Poloniex? BCHABC and BCHSV on Poloniex read more.
11/11/2018 / 17:21:10
Themerkle Negative - Basic Attention Token Price Plummet Continues as Technical Fundamentals Indicate More Pain read more.
11/11/2018 / 17:12:13
Cryptoglobe Neutral - Cryptocurrencies Will Replace Fiat By 2030, International Blockchain Speaker Claims read more.
11/11/2018 / 17:00:00
Bitcoin.Com Neutral - Markets Update: All Eyes on Bitcoin Cash Prices Before the Pending Fork read more.
11/11/2018 / 16:50:35
Blokt Neutral - VersaVault’s ‘Digital Safety Deposit Box’ Set for Commercialization read more.
11/11/2018 / 16:47:03
Newsbtc Neutral - Web Summit 2018, a Great Event for Crypto Community read more.
11/11/2018 / 16:18:03
Cointelegraph Neutral - Private Blockchains Could Be Compatible with EU Privacy Rules, Research Shows read more.
11/11/2018 / 16:10:00
Cointelegraph Neutral - Hodler’s Digest, November 5-11: Star Trek’s Captain Kirk Defends ETH Decentralization, While Fake Elon Musks Overrun Twitter read more.
11/11/2018 / 16:03:00
Bitcoinist Neutral - Bitcoin ATMs Have Spread to 4,000 Locations Globally read more.
11/11/2018 / 16:00:42
Cryptoglobe Neutral - Bitmain Files Lawsuit Against Hacker Who Allegedly Stole $5.5 Million From Its Binance Account read more.
11/11/2018 / 15:30:39
Livebitcoinnews Neutral - Cryptocurrency Holders File Lawsuit Against US Telcos Over SIM Swapping Incidents read more.
11/11/2018 / 15:00:23
Trustnodes Neutral - Bitcoin’s Hashrate Falls 13% read more.
11/11/2018 / 14:57:30
Cryptoglobe Neutral - #XRP Long-term Price Analysis read more.
11/11/2018 / 14:45:41
Ccn Neutral - Revolut: Lack of Investor Interest Stunting Crypto Adoption on Wall Street read more.
11/11/2018 / 14:30:43
Newsbtc Neutral - EOS Centralization Reportedly in Action: Arbitrators Able to Reverse Transactions read more.
11/11/2018 / 14:03:00
Cryptoglobe Neutral - Circle Invest Lists Basic Attention Token, Following Coinbase's Listing read more.
11/11/2018 / 14:00:55
Negative
3.2%
Neutral
95.2%
Positive
1.4%
Mixed
0.1%

Latest comments:

4 min
Hey Sam, how is it going? But I must explain to you how all this mistaken idea of denouncing of a pleasure and praising pain was born
3 min
Pretty good. Doing my homework.. No one rejects, dislikes, or avoids pleasure itself, because it is pleasure, but because
2 min
Any chance to go out? To take a trivial example, which of us ever undertakes laborious physical exercise, except to obtain some advantage
2 min
.. Maybe 40-50 mins. I don't know exactly. On the other hand, we denounce with righteous indignation and dislike men who are so beguiled
1 min
Anyway sounds great! These cases are perfectly simple and easy to distinguish.