T-Mobile was disclosed by California-based law firm Greenberg Glusker to have paid $33 million in a private arbitration process resolving a lawsuit alleging the telecommunications service provider's negligence that resulted in a SIM swapping attack five years ago, according to SecurityWeek.
Infiltration of T-Mobile's systems allowed threat actors to conduct SIM swapping that facilitated the theft of $38 million worth of cryptocurrency from Joseph Jones in February 2020, said Greenberg Glusker. Investigation into the incident revealed the attack to have been conducted by a teen associated with hackers Nima Fazeli and Joseph O'Connor, who had targeted over 100 Twitter accounts, including those belonging to former President Joe Biden, BIll Gates, Jeff Bezos, and Elon Musk. "SIM swapping has been an unchecked security flaw for years. Carriers like T-Mobile have known about it and failed to take basic precautions. This award makes it clear: they must do better," said Paul Blechner of Greenberg Glusker.
