The 20-year-old hacker Ellis Pinsky has agreed to pay crypto investor Michael Terpin $22 million, according to CoinDesk.
The 2018 hack involved a sophisticated AT&T SIM swap scheme. As a result, Terpin lost cryptocurrency valued at $24 million.
At the time of the incident, Pinsky, nicknamed ‘Baby Al Capone’, was 15 and still in high school. The hacker admitted his direct involvement in the SIM swap.
Terpin’s attorney Tim Tuohy expressed confidence that AT&T would take responsibility for the security lapse that enabled the breach.
In 2020, the California court dismissed Terpin’s $200 million lawsuit against the telecommunications giant.
Another lawsuit against AT&T in 2021 was filed by a Texas resident, Jamarcus Etheridge. He alleged security breaches at the company led to Ethereum theft through SIM swapping.
Earlier in November 2021, the U.S. Department of Justice charged a UK resident with the theft of $784,000 in digital assets from a crypto company through SIM swapping.
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