T-Mobile ordered to pay $33 million due to cryptocurrency theft caused by "SIM card swapping attack."

ChainCatcher news, according to Greenberg Glusker, T-Mobile has been involved in a cryptocurrency theft due to "multiple security vulnerabilities" that led to SIM card swapping attacks. The law firm Greenberg Glusker announced on March 20 that it has obtained a $33 million arbitration award against T-Mobile.

The arbitration took place in the fall of 2023 and involved 12 days of testimony. According to Greenberg Glusker, the arbitration panel found that T-Mobile was responsible for "its multiple security failures that led to SIM card swapping attacks, resulting in the theft of cryptocurrency."