T-Mobile slapped with $33 million bill for a SIM swap it didn’t stop

Kris Carlon / Android Authority TL;DR T-Mobile was ordered to pay $33 million in damages after losing an arbitration case tied to a major security failure. The case involved a SIM swap attack that allowed hackers to steal $38 million in cryptocurrency from a customer’s account. The breach happened even though the victim had extra protections, raising concerns that hackers bypassed T-Mobile’s security through a backdoor. T-Mobile has paid $33 million to settle a private arbitration case involving a major SIM swap incident that resulted in the theft of tens of millions of dollars in cryptocurrency. The payout, revealed through a petition filed in a Los Angeles court, follows a high-profile legal battle brought forward by California law firm Greenberg Glusker. According to Security Week, which reviewed the legal filings, the arbitration award stems from a February 2020 cyberattack that targeted tech entrepreneur Joseph “Josh” Jones. The attackers managed to hijack Jones’ T-Mobile acc ... Read full article.