T-Mobile Ordered to Pay $33M After SIM Swap Hack Leads to $38M Crypto Theft

T-Mobile has been ordered to pay $33 million in damages following an arbitration case linked to a SIM swapping scam that resulted in the theft of $38 million in cryptocurrency from a customer’s account. The incident occurred in February 2020, targeting tech entrepreneur Joseph “Josh” Jones. Attackers hijacked Jones’ T-Mobile account by porting his phone number to a SIM card they controlled, enabling them to access and drain his cryptocurrency holdings—over 1,500 Bitcoin and approximately 60,000 Bitcoin … [read full article]