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Crypto investor Michael Terpin fights AT&T’s motion to strike out his $200 million damages claim

Crypto investor Michael Terpin fights AT&T’s motion to strike out his $200 million damages claim
  • Michael Terpin filed an opposition to the AT&T and their motion to strike out his $200 million punitive damages claim in a long-running lawsuit in SIM swapping.
  • Michael was the victim of several attacks in 2017 and 2018 and in his cryptocurrency holdings, he lost over $24 million.

A well-known crypto investor, Michael Terpin recently filed an opposition to the Telecom giant AT&T and their motion to strike out his $200 million punitive damages claim in a long-running lawsuit in SIM swapping.

Michael was the victim of several attacks in 2017 and 2018 and in his cryptocurrency holdings, he lost over $24 million. He makes the claim that his device was actually compromised as a result of the negligence performed by AT&T. 

For those that don’t know, such a swap attack will typically occur when a criminal fool’s a carrier into changing the victim's phone number into a SIM card that they control. This will allow them to Steal Cryptocurrency as they can accept 2FA prompts.

Speaking with CT, Michael made it known that he was very frustrated with the ongoing attempts to waste time and money in court as they postponed their so-called doing. The company called the attacks very unfortunate whether they said that they would continue to fight the case in their favour.

The filing has claimed that the company has attempted to strike the punitive damages and the claimant rests on. The filing further states:

“Mr. Terpin’s primary argument is that AT&T through its corporate officers and managing directors created an inadequate ‘security’ system that allowed its employees and contractors to bypass controls to implement SIM swaps.”

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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