Landmark Arbitration: T-Mobile Held Responsible For $33 Million Cryptocurrency Theft in SIM Swap Attacks

A significant legal victory has been secured against telecom giant T-Mobile, marking a crucial step towards holding telecommunications companies accountable for their role in SIM swap-related cryptocurrency theft. According to a recent arbitration award obtained by law firm Greenberg Glusker, T-Mobile was found liable for multiple security failures that enabled these attacks, resulting in the loss of cryptocurrency. The final sum, which includes $6.5 million in legal fees, interest, and costs, has been paid by T-Mobile, and the firm plans to seek court confirmation of this decision. ]