Investor sues AT&T over the theft of 159 ETH

Investor sues AT&T; over the theft of 159 ETH Another cryptocurrency investor has filed a lawsuit against AT&T; accusing it of failing to prevent unauthorized access to customer accounts.

Jamarquis Etheridge filed a lawsuit in Southern District of Texas court against AT&T; Inc. and AT&T; Mobility LLC, alleging that he was the victim of SIM card fraud. In this type of fraud, the perpetrator activates the victim’s phone number on his SIM card. By doing so, he gets not only the phone number, but also the ability to perform two-factor authorization for online access to the victim’s banking and services.

According to Etheridge, AT&T; assures customers that it takes adequate measures to prevent unauthorized SIM card swaps, but “fails to provide reasonable and appropriate security to prevent unauthorized access.” Plaintiff alleges that as a result of AT&T’s acts or omissions; it has suffered and continues to suffer damages, including the loss of 159.8 ETH.

Etheridge hopes to recover the stolen ETH from AT&T; as well as statutory damages for all costs, such as “pre-judgment and post-judgment interest on any amounts awarded” and any other relief the court deems just and proper. That Etheridge would seek damages from telecommunications giant AT&T; is skeptical, as a previous similar lawsuit was dismissed by the court.

In 2018, cryptocurrency investor Michael Terpin accused the company of aiding and abetting fraudsters. In 2019, another AT&T customer suffered at the hands of fraudsters; Seth Shapiro. The court found that the company was indirectly at fault for the disclosures, but AT&T’s privacy policy; states that it cannot guarantee that customers’ personal information will never be disclosed “as a result of unauthorized third-party actions.”