Seth Shapiro Claims AT&T Was A Part Of $1.8 Million Crypto Theft

Seth Shapiro sued AT&T for giving permission to hackers to steal $1.8 million in cryptocurrencies and noted that their claims of failing to prevent the theft are not enough, so let’s read more in the coming altcoin news.

Back in October 2019, the cryptocurrency sector was a witness of a one of kind case, where blockchain entrepreneur and two-time Emmy-wining tech consultant, Seth Shapiro, from California, filed a lawsuit against the US telecom juggernaut, AT&T. According to the lawsuit, a number of the workers of the company were participants in a SIM-swap attack that gave the opportunity to hackers to steal $1.8 million in crypto from Shapiro.

The lawsuit was filed on October 17^th, while the said event happened between 16^th of May, 2018 and 18^th of May, 2019. Seth Shapiro made the claim that there were four hacks in sum that had as the consequence the stealing of his personal data and his cryptocurrencies. From then, the official response of AT&T was that they were incapable of preventing the theft, which made Shapiro strike back at the telecom provider, claiming that it either had in advance knowledge or that it should have had the in advance knowledge that ‘…its portable SIM cards were an attack vector that was actively being exploited before the events at issue…’

Also, according to the brief made by Shapiro on Wednesday with the US District Court for the Central District of California, it is completely the fault of AT&T, because they failed to take action to resolve the situation.

 “AT&T knew or should have known that a stolen phone can be as effective as a stolen password. It is simply not believable that AT&T is ignorant of these basic facts. If AT&T argues otherwise, following discovery, it is for a jury to determine.”

It must be noticed that AT&T does not have an impressive reputation on the subject of SIM-swapping and problems caused by it, which have grown in between 2013 and 2016 for 100%. Also, this is also not the first-time case of this kind to happen, where the telecom provider is sued after a similar situation. Another case like this was Trepin vs AT&T, though in this particular case the court had laid a portion of the responsibility to the claimant.