T-Mobile Faces $33 Million Award Over SIM Swap Case

A recent arbitration case has resulted in a significant financial penalty for T-Mobile, as the telecom giant was ordered to pay $33 million to a victim of a SIM swap attack. This award follows a series of security failures that facilitated the theft of over $165 million worth of cryptocurrency in 2020. The decision highlights the industry’s vulnerability and emphasizes the need for increased protection against SIM swapping attacks.