T-Mobile Ordered to Pay $33 Million Over SIM Swap Attacks Causing Crypto Theft

A landmark decision has awarded a significant sum of $33 million in damages to victims affected by SIM swap attacks targeting cryptocurrency holders. The case against T-Mobile, one of the world’s largest telecommunications providers, highlights the vulnerabilities inherent in these attacks. This arbitration win marks the largest known verdict on this issue, demonstrating accountability for telecom carriers failing to prevent such fraud schemes and their devastating impact on digital asset security.