Crypto investor, Michael Terpin sues AT&T for $224 million

AT&T

For losing his cryptocurrencies, a popular US digital currency investor, Michael Terpin has sued telecom giant, AT&T for $224 million.

In a lawsuit filed by the cryptocurrency investor, Michael Terpin is accusing AT&T of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account.

In a 69-page complaint filed with the U.S. District Court in Los Angeles, Terpin alleged that on January 7, 2018, the tokens were stolen from him through what he alleged was a “digital identity theft” of his cellphone account. In the complaint, he said AT&T was his service provider.

In an emailed response cited by Reuters News, an AT&T spokesman said: “We dispute these allegations and look forward to presenting our case in court.”

At the time of the theft, the three million stolen tokens were worth $23.8 million, the complaint said. Terpin is also seeking $200 million in punitive damages.

The complaint said that AT&T had been previously contacted by law enforcement authorities about such frauds.