T-Mobile is being sued by a customer as a result of a SIM attack that resulted in over losses of over $450,000 in cryptocurrency.
The plaintiff, Calvin Cheng, lost 15 bitcoin after an interaction with Brandon Buchanan, T-mobile customer and co-founder of investment fund Iterative Capital, who had been victim of a SIM-swapping attack.
California resident Cheng received a message via Telegram that he believed was from Buchanan offering him an above market value rate for 15 bitcoin in May 2020.
The plaintiff’s attorneys claim that T-Mobile’s “systemic and repeated failures” to protect customers’ sensitive information despite increasingly frequent SIM attacks is to blame.
The complaint, filed Monday in the Southern District of New York, alleges T-Mobile violated Federal laws and being negligent in its hiring and training of customer service personnel.
T-Mobile has claimed that it maintains the highest standard of authentication procedures to protect its customers in the face of account takeover fraud.