{"id":28470,"date":"2020-09-10T14:58:56","date_gmt":"2020-09-10T11:58:56","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=28470"},"modified":"2025-08-27T11:48:49","modified_gmt":"2025-08-27T08:48:49","slug":"att-suit-over-200m-payout-to-bitcoin-investor-terpin-dismissed","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/att-suit-over-200m-payout-to-bitcoin-investor-terpin-dismissed\/","title":{"rendered":"AT&#038;T suit over $200m payout to bitcoin investor Terpin dismissed"},"content":{"rendered":"<p>The Central District of California dismissed the suit by BitAngels founder Michael Terpin against telecoms giant AT&#038;T seeking damages, <a href=\"https:\/\/www.coindesk.com\/judge-terpin-att-crypto-sim-swap-hack\" target=\"_blank\" rel=\"noopener noreferrer\">\u043f\u0438\u0448\u0435\u0442<\/a> CoinDesk.<!--more--><\/p>\n<p>Terpin contended that in 2018 the company aided scammers in SIM-swapping, causing him to lose cryptocurrency worth $24 million. The investor sought $200 million in damages.<\/p>\n<p>At the September 8 hearing, AT&#038;T&#8217;s lawyers argued the claims were without merit, because \u201cthe company&#8217;s privacy policy does not guarantee full protection against external intrusions.\u201d On that basis, the mobile operator had no incentive to conceal information about the limitations of the security protocol.<\/p>\n<p>The court also found no evidence that AT&#038;T employees knew about two-factor authentication shortcomings but did not take them into account.<\/p>\n<p>The suit seeking $200 million in damages was dismissed because it rested on allegations of fraud and employees&#8217; negligence by AT&#038;T.<\/p>\n<p>Earlier the court rejected AT&#038;T&#8217;s motion to dismiss the case, ruling that Terpin showed how hackers could use his phone&#8217;s two-factor authentication to access cryptocurrency wallets, while he relied on the mobile operator&#8217;s protections.<\/p>\n<p>The investor&#8217;s suit against AT&#038;T for breach of contract and unauthorized disclosure of private information by hackers is ongoing. The amount sought is $23.8 million.<\/p>\n<p>In May 2019, Michael Terpin secured $75.8 million in compensation in a suit against Nicholas Truglia, who stole his cryptocurrency through SIM-swapping. Nicholas Truglia was arrested in November 2018 for stealing $1 million in cryptocurrencies, including by SIM-card forgery.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"> YouTube<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Central District of California dismissed the suit by BitAngels founder Michael Terpin against telecoms giant AT&#038;T seeking damages, writes CoinDesk.<\/p>\n","protected":false},"author":1,"featured_media":28471,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1687,1162,1154,1688,26],"class_list":["post-28470","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-att","tag-court-cases","tag-crimes","tag-sim-swapping","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=28470"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28470\/revisions"}],"predecessor-version":[{"id":28472,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/28470\/revisions\/28472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/28471"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=28470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=28470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=28470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}