Published
5 years ago on
August 17, 2018
“Terpin’s crypto bag was looted in January so it is highly likely that his coins are now worth far less than $23.8 million.  Still, Terpin argues that the negligence is worth a severe punishment because SIM card fraud is a known problem that large holders of cryptocurrency deal with.â€Moreover:
“In the complaint, Terpin’s legal team claims ‘what AT&T did was like a hotel giving a thief with a fake ID a room key and a key to the room safe to steal jewelry in the safe from the rightful owner.’ If successful, Terpin’s lawsuit could have great implications for the way communications companies must handle security issues.â€See more for yourself, here. Is Terpin going in a little hard here? Is this really the fault of the AT&T employee? Perhaps his account should have flagged that his extra protection had ended, moreover, perhaps something needs introducing that means these protections are carried over when hardware changes but even so, I think this is a little harsh on AT&T, especially considering the extra $200 million raised for damages, that’s just ludicrous. Surely, instead this should be down to a criminal investigation against the hacker? Yes, Terpin might get his money back from AT&T, but the hacker is still at large here, surely there’s a better approach to be taken here?
