Silver Miller the leading cryptocurrency investor law firm in America – continues to be a strong advocate for cryptocurrency investors harmed in a variety of ways. Along with aiding cryptocurrency investors abused by onerous cryptocurrency exchanges or duped by fraudulent Initial Coin Offerings (ICOs), Silver Miller has recently filed against AT&T and T-Mobile several arbitration claims on behalf of crypto asset holders victimized in an emerging identity theft crisis known as “SIM swapping.”
By leaving holes in their security protocols and failing to properly train and monitor their employees, cellphone providers have assisted thieves in remotely taking over the SIM cards in people’s smartphones, accessing financial records and account information of the victims, and emptying the victim’s accounts of cryptocurrency and other valuable assets.
In one such case, Silver Miller’s client – an AT&T accountholder – was robbed of over $621,000.00 of cryptocurrency in a SIM swap, even after AT&T had assured him it had increased security on his account following an earlier attempted hack. In other cases filed by Silver Miller on behalf of T-Mobile clients, the victims were robbed of $400,000.00 and $250,000.00, respectively, when T-Mobile permitted SIM swaps to take place in similar incidents.
“SIM swapping” or “SIM hijacking” is a growing crime in the telecommunications world that, in a few moments’ time, can allow a thief to steal millions of dollars of an unsuspecting victim’s assets with little more than a persuasive plea for assistance, a willing telecommunications carrier representative, and an electronic impersonation of the victim.
Anyone who has been victimized by SIM swapping and has had money, cryptocurrency, or other valuable assets taken from them as a result of a cellphone service provider’s failed security protocols should contact Silver Miller without delay to discuss their legal options. Silver Miller is at the forefront of cryptocurrency and financial fraud litigation and fights to protect investors where government regulators and law enforcement officials do not.