Mars Finance News, on March 30, a law firm Greenberg Glusker announced today that it has won a $33 million arbitration ruling against telecommunications giant T-Mobile, calling this result a key milestone in holding telecommunications operators accountable for SIM card swap-related cryptocurrency theft. According to Greenberg Glusker, the arbitration panel found T-Mobile responsible for "multiple security failures that enabled SIM card swap attacks and led to cryptocurrency theft". The final amount, including over $6.5 million in legal fees, interest, and costs, has been fully paid by T-Mobile. Greenberg Glusker has submitted a petition to the Los Angeles Superior Court to confirm the ruling and make case details public. The law firm emphasized the scale and significance of this result. Pierce O'Donnell, a lawyer at Greenberg Glusker who led cross-examination during arbitration, stated: "This is the largest known SIM card swap-related ruling and an important victory for mobile consumers." The firm emphasized that its litigation team—composed of O'Donnell, Paul Blechner, James Molen, and Eric Sefton—demonstrated T-Mobile's long-term failure to address known security vulnerabilities. Blechner, while reviewing key witnesses including SIM card swap attackers, said: "This is a great result for our clients and global mobile users. For years, SIM card swapping has been an uncontrolled security vulnerability. Operators like T-Mobile have long known about this issue but failed to take basic preventive measures. This ruling shows they must do better."
T-Mobile ordered to pay $33 million for SIM card hack that led to cryptocurrency theft
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