T-Mobile Sued For “Allowing Hackers to Steal Crypto”

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Sead Fadilpašić

Journalist

Sead Fadilpašić

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Sead specializes in writing factual and informative articles to help the public navigate the ever-changing world of crypto. He has extensive experience in the blockchain industry, where he has served...

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June 26, 2023

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A T-Mobile, a telecommunication company, user filed a suit in Washington federal court, saying that the company’s lacking security measures were the reason thousands of dollars’ worth of crypto was drained from his crypto exchange account.

Carlos Tapang accused T-Mobile for “failure to provide appropriate security for its customers”, according to Law360. He stated that inefficient security measures allowed the thieves to transfer his own phone number to another carrier, thus enabling the theft.

Tapang claims 1,000 OmiseGo (OMG) tokens and 19.6 BitConnect coins were stolen. This was, supposedly, exchanged for 2.875 Bitcoins, which at the time of the theft, November 7th, were worth USD 20,466.55 total. Apparently, the company had assured Tapang they would add a PIN number to his account prior to the incident, but didn’t actually implement it. According to The Verge, “The complaint also lists several anonymous internet users who have posted about similar security breaches to their own T-Mobile accounts.”

This suit comes to light only two weeks after the Bitcoin robbery at gunpoint in England, both setting dangerous precedents. However, Bitcoin robbers were left with nothing when the transfer of the cryptocurrency failed to reach their account.

Even though blockchain technology is hailed as theft-proof, other ways of stealing tokens remain possible – either through brute force, such as the gunpoint robbery, or a company’s oversight. Good security measures are now more important than ever, as proven by an increasing number of cases, including the Japanese crypto exchange Coincheck hack.