SIM Swap Results in Crypto Theft: 15 Steps to Reclaim Your Digital Assets

Dilendorf Law Firm is a national consumer protection law firm dedicated to assisting victims of hacks, including SIM swaps, in their fight to recover stolen assets.

When your SIM is swapped and your crypto is stolen, time becomes your greatest adversary. Cybercriminals can swiftly gain access to your crypto exchange accounts once they hijack your phone number.

Acting fast and following the proper steps is essential to secure your digital assets and build a strong case for recovery. Here are 15 practical steps to help you fight back.

1. Secure Your Mobile and Devices

Immediately contact your mobile carrier to report the SIM swap. Request that your account be locked and any unauthorized changes be reversed.

At the same time, update your passwords on your mobile devices, crypto exchange, email, and any other sensitive accounts. Make sure to enable two-factor authentication and take screenshots of your new security settings for your records.

2. Notify Your Crypto Exchange

As soon as you suspect a breach, call your crypto exchange’s support or fraud department. Explain that your SIM has been swapped and that unauthorized transactions have taken place.

Ask them to freeze your account to prevent further losses, and provide any details you have, such as transaction times and amounts.

In addition to calling support, submit a detailed support ticket to formally document the issue. For example, if you’re a Coinbase user, file a support ticket at Coinbase Support.

Similarly, if you use Gemini, submit a ticket at Gemini Support Request. Include all relevant details and evidence to help expedite their investigation and account freezing process.

3. Collect and Preserve Evidence

Gather all available evidence related to the incident. Save emails, bank statements, and transaction logs.

Capture screenshots of suspicious activity, error messages, and any alerts you received from the crypto exchange or your mobile carrier. This documentation will be critical for any dispute or legal proceedings.

4. File a Police Report

Contact your local law enforcement immediately to file a police report. Provide them with all the details and evidence you have collected.

Make sure to obtain a copy or photo of the report, as it will support your case when dealing with your exchange or insurance providers.

5. Submit a Complaint to the FBI

File a report with the FBI’s Internet Crime Complaint Center (IC3). Although this may not lead to immediate action, an official FBI report strengthens your claim and helps build a record of the incident for future recovery efforts.

6. Place a Fraud Alert on Your Credit

Even though this case involves crypto, it’s wise to protect your overall financial identity. Contact the major credit bureaus to place a fraud alert or freeze on your credit.

Retain any confirmation messages or screenshots as proof that you have taken this step.

7. Contact Regulatory Authorities

If your crypto exchange or mobile carrier does not adequately address the breach, consider filing a complaint with regulatory agencies such as the Consumer Financial Protection Bureau (CFPB) or your state’s financial regulatory authority. Their involvement may add additional pressure on the institution to act.

8. Your Rights Under the Federal Communications Act

Under the FCA, you have the right to have your communications and personal data protected. Carriers must implement strict security measures and respond promptly to any unauthorized access or SIM swap incidents.

If you believe your carrier has not met these standards, you have the right to file a complaint with the Federal Communications Commission (FCC) to seek further investigation and enforcement.

9. Follow Your Carrier’s Pre-Arbitration Procedures

Before you can initiate arbitration regarding the SIM swap, carefully review the pre-arbitration procedures outlined in your phone carrier’s terms and conditions.

Most carriers require you to submit a formal notice of dispute and observe a 60-day notice period before arbitration can begin.

For detailed instructions, refer to your carrier’s terms and conditions:
• Verizon Wireless: Verizon Wireless Terms and Conditions
• AT&T Mobility: AT&T Mobility Terms and Conditions
• T-Mobile USA: T-Mobile USA Terms and Conditions

10. Provide Formal Notice to the Exchange

If your crypto exchange is responsible for transferring your funds to unauthorized individuals during an account takeover, you must submit a formal notice as required by your user agreement.

For example, Coinbase requires a 45-business-day notice before filing an arbitration claim, while Gemini requires a 60-day notice. It’s essential to meet these deadlines to protect your rights.

11. Seek Professional Legal Advice

Phone carriers often include waivers and limitations of liability in their agreements, which can limit your ability to recover damages. Having an experienced attorney on your side is crucial.

An experienced lawyer will explain your rights, help you navigate the dispute and arbitration process, and make sure you don’t fall victim to hidden contractual traps. Their expert guidance can be the key to building a strong case and protecting your interests.

12. Consider a Blockchain Forensics Expert

If your case involves large amounts or complex transactions, consider hiring a blockchain forensics expert. They can trace the movement of your stolen funds on the blockchain and provide a detailed report to support your claim in legal or arbitration proceedings.

13. Prepare Your Arbitration Demand

If your dispute with your phone carrier moves to arbitration, review the carrier’s dispute resolution procedures outlined in your terms and conditions carefully. Gather all your evidence and file your arbitration demand as required by their guidelines.

The arbitration will be handled by a designated forum, such as AAA, NAM, or JAMS, as specified in your terms and conditions.

Expect the arbitration process to take between 9 to 12 months, during which you may face depositions, expert witness testimony, discovery motions, and a final evidentiary hearing that could last up to five days. Most arbitration hearings are held online, with all parties participating remotely. Update your demand as necessary if new evidence emerges.

14. Select a Qualified Arbitrator

When your case moves to arbitration, choose an arbitrator who understands the complexities of SIM swap fraud and crypto theft. Look for someone with experience in digital security and telecommunications disputes.

A knowledgeable arbitrator will understand the technical aspects of your case and help ensure a fair evaluation.

15. Understand Arbitration’s Finality and Confidentiality

Keep in mind that arbitration decisions are final and generally cannot be appealed, except in rare instances such as proven arbitrator bias. Additionally, arbitration is confidential, meaning the details and outcomes are not made public.

This confidentiality may limit your ability to reference similar cases in the future, so be sure you understand its implications before proceeding.

Contact Us

If you need help with your SIM swap or crypto theft case, don’t hesitate to reach out to Dilendorf Law Firm. Contact us today at (212) 457-9797 or email info@dilendorf.com to explore your legal options.

Resources:

1. Cryptocurrency – Internet Crime Complaint Center (IC3)
2. NYDF Consumer Complaint
3. AAA Consumer Arbitration Rules
4. JAMS Comprehensive Arbitration Rules & Procedures
5. Crypto Enforcement
6. Modern Scams: How Scammers are Using Artificial Intelligence and How We Can Fight Back
7. Cryptocurrency Fraud Report 2023
8. Cryptocurrency: Selected Policy Issues
9. Combatting Illicit Activity Utilizing Financial Technologies and Cryptocurrencies
10. Crypto-Assets: Implications for Consumers, Investors, and Businesses
11. Exploring the Cryptocurrency and Blockchain Ecosystem
12. Crypto Assets
13. What To Know About Cryptocurrency and Scams
14. Digital Assets | CFTC
15. Taxpayers need to report crypto, other digital asset transactions on their tax return

We stay up to date and track cases involving phishing attacks and sim swap affecting major cryptocurrency exchanges and mobile operators:

• BTC investor sues T-Mobile over alleged SIM swap fraud | Coingeek

One of the largest cellphone carriers in the United States is facing yet another lawsuit by a digital currency investor over SIM swap fraud. T-Mobile failed in its duty to protect its users and resulted in the plaintiff’s loss of $55,000 worth of BTC, according to the lawsuit filed in Pennsylvania.

• Can I sue T-Mobile and Coinbase.com for damages as a result of their negligence? | Avvo

I am victim of a SIM Swap scam. Both T-Mobil and Coinbase.com where negligent and failed to protect me. I have all the evidence to prove my case.

• Crooks steal $800,000 from elderly woman’s Coinbase cryptocurrency account

An 84-year-old grandmother living in West Palm Beach started investing in cryptocurrency to help save up for her family’s future. Then, nearly all of the money she put into cryptocurrency vanished after she claims a hacker got into her accounts and drained it of about $800,000.

• Coinbase Reportedly Stealing Customer Funds, According to Complaint Documents Filed to SEC | CryptoGlobe

Coinbase users have filed 134 pages of complaints to the SEC alleging that their funds have been “stolen” by the exchange

• T-Mobile Sued Again Over SIM Swap Crypto Losses | Law Street

Yesterday, Kevin Frye filed a complaint in the Southern District of Florida against T-Mobile USA, Inc. for allegedly conducting a “SIM-Swap” without his consent, resulting in the loss of tens of thousands of dollars worth of cryptocurrency. The plaintiff claimed that “T-Mobile Representatives were either complicit with the theft or grossly negligent” since they have been on “notice for years that their security measures were not adequate.”

• SIM swapping victim alleges T-Mobile failed to stop $20,000 cryptocurrency scam | Cyberscoop | June 4, 2021

A Pennsylvania woman who lost the equivalent of $20,000 in cryptocurrency as part of a mobile fraud scheme says T-Mobile failed to protect her account in the face of a wave of similar incidents.

Nine months before scammers stole $20,000 from Kesler’s Coinbase account, the suit argues, Jack Dorsey was the victim of another high profile SIM swap, in which outsiders seized control of the Twitter CEO’s information. Security journalist Brian Krebs also covered the issue in 2018, specifically reporting that a T-Mobile retail store employee was under investigation for making an unauthorized SIM swa

• Man takes on Gemini and CIT in lawsuit after his $263,799.28 was allegedly stolen to purchase crypto

A man is suing Gemini, claiming it was negligent not to notice significant sums of money moved from his money market account to buy cryptocurrency on the exchange over seven days. While the trader was out of reach in the Australian outback, someone allegedly stole money from his CIT account and wired it to Gemini to purchase crypto. Later, he noticed fraudulent activity on his accounts with other banks, and is suing CIT in addition to Gemini, claiming it violated the Electronic Funds Transfer A

• Gemini Client IRA Financial Hacked for $36M in Bitcoin and Ethereum: Report

Hackers stole $21 million in Bitcoin and $15 million in Ethereum from retirement accounts held with IRA Financial Trust on February 8, according to a report from Bloomberg based on an anonymous source.

• Coinbase Customers Are Furious Over Response to Hacked Accounts and Stolen Funds | Yahoo Finance

Interviews and thousands of complaints have revealed a pattern of account hacks where users have reported money vanishing from their accounts, reports CNBC. Once criminals gain access to an account, funds can be drained within minutes.

• Lost $350,000 in a hack, now Coinbase wants me to pay them $10,000 | Reddit User | March 15, 2022 – 5 months Ago

My account that my mom and I use together got hacked in June of this year. We lost $350,000.The hacker not only transferred out all of the crypto we owned, they used the bank accounts that were linked to purchase more. When we found out about the hack, we called our banks to stop the transfer of money. We also immediately contacted Coinbase to report the hack. However, Coinbase still let the purchase go through while the bank transactions were pending. Now, Coinbass is claiming that because we stopped our banks from transferring the money, we owe them $10,000 to reimburse them for the purchase.

• Bitcoin Trading Website Coinbase Faces SEC Complaints Over Missing Crypto | Newsweek

California-headquartered crypto trading platform Coinbase—has been named in at least 115 complaints sent to the U.S. Securities and Exchange Commission and the California Department of Business Oversight

“I believe Coinbase has engaged in fraud by knowingly marketing a service it knows it cannot actually provide,” the filing from November last year read, adding: “Coinbase knows it does not have the infrastructure to timely and adequately meet customer needs.” At the time, bitcoin and other virtual currencies were rocketing in value, leading to an unprecedented interest from eager new investors.

• Hacking Coinbase: The Great Bitcoin Bank Robbery

It took only two minutes for the attacker to clean Sean Everett out of what was then a few thousand dollars’ worth of digital coins from his Coinbase wallet

• Coinbase once lost $250,000 of Bitcoin in phishing attack | Decrypt | May 22, 2020         

Author Jeff Roberts said $250,000 was stolen from Coinbase in 2013/2014. Roberts claims Coinbase’s hot wallet was hacked just a year after the company’s inception in 2012, and that the hacker made away with $250,000 worth of Bitcoin

• Parma couple loses $22,000 on Coinbase, issues warning about cryptocurrency buys

Olympia and Steve Kallman of Parma said they are dealing with some sleepless nights after police reported they had more than $22,000 taken by con artists from their Coinbase cryptocurrency virtual wallet back on Aug. 16.

• T-MOBILE SUED AFTER CLIENT LOST $8.7 MILLION IN CRYPTOCURRENCY HACK | Levin Law, August 12, 2021

T-Mobile is facing a multi-million dollar lawsuit after hackers were able to gain unauthorized access to a client’s account. Using information provided by the cellular company, hackers successfully bypassed their two-factor authentication security measures enabling them to obtain a SIM card with the client’s personal and financial information. $8.7 million in cryptocurrency was ultimately transferred out of the customer’s account.

• T-Mobile Customer Sues T-Mobile After Losing $8.7 Million of Cryptocurrency Stolen in SIM Swap Scam | Dimond Kaplan & Rothstein, P.A.

T-Mobile has been hit with a multi-million-dollar lawsuit after Reginald Middleton lost millions of dollars when hackers gained unauthorized access to his account. The hackers used information supplied by T-Mobile to successfully circumvent the two-factor authentication measure, which allowed them to obtain a SIM card containing all of Middleton’s financial and personal information. Ultimately, $8.7 million in cryptocurrency was transferred out of Middleton’s account.

• Another Bitcoin Investor Sues T-Mobile Over SIM Swap Attack | Nasdaq | July 15, 2021

Richard Harris, the customer and plaintiff, is alleging T-Mobile’s misconduct including its failure to adequately protect customer information, hire appropriate support staff and its violation of federal and state laws led to his loss of 1.63 bitcoin.

• Coinbase Account Easily Hacked (even with 2FA) | Reddit

Last night while I was sleeping my account was logged into (web) from Russia…

• Cryptocurrency accounts wiped out ‘in an instant’ by cyber crooks

The Vidovics lost nearly $170,000 in the blink of an eye when someone hacked their Coinbase account.

• Family loses $75,000 in cryptocurrency to SIM card thieves

John said his accounts with Coinbase and Coinbase Pro were emptied as he watched his phone screen.

• Coinbase User Accounts Emptied After Hackers Gained Access to Their Crypto Wallets | Couple Discovered $168K Crypto Stolen | Tech Times | August 25, 2021

….an increasing number of users of the currently highly popular cryptocurrency exchange called Coinbase have suddenly found their accounts on the platform empty. This is after hackers have managed to gain access to them and thoroughly drain their cryptocurrency wallets.

• Sim-swappers hack League of Legends star out of $200K worth of cryptocurrency from Coinbase account | TheNextWeb | September 18, 2018

League of Legends superstar has had $200,000 in cryptocurrency stolen from them – directly from their Coinbase account

• Hackers Circle as Individual Investors Pour Cash Into Crypto

…an unauthorized user had changed Ms. Maguian’a passwords for trading platforms… Coinbase and initiated transactions that emptied her accounts of crypto valued at around $80,000 at the time

• U.S. Court Rules Money Laundering-Related Case Against Coinbase Must Have Public Trial | Cointelegraph | April 24, 2018

The Eleventh Circuit Court of Appeals ruled today that the class action against Coinbase…will be held in open court. The case in question alleges that Coinbase assisted in laundering around $8.2 mln of stolen Bitcoin (BTC) – valued at over $100 mln today.

• Coinbase Cryptocurrency accounts wiped out ‘in an instant by cyber crooks | ABC Action News |

The Vidovics lost nearly $170,000 in the blink of an eye when someone hacked their Coinbase account.

• Fraudsters are using bots to drain cryptocurrency accounts | CNBC

Dr. Anders Apgar, a Coinbase customer, said his account had a balance of more than $100,000 in crypto when it was hacked during a robocall.

• Coinbase Account Hacked $14,000 USD stolen | Reddit User |

I had $14,000+ USD in my coinbase pro account. The account was hacked at the money was switched over to crypto and sent to multiple people this occured several hours ago (05/14/2021). Case # 06082303

• Cybercriminals cleanout cryptocurrency using sim card swap scam | ABC Action News

Tampa resident David Bryant knew something was wrong last October when he found Coinbase notifications deleted from his account and his login no longer worked. “I lost about $15,000 dollars worth of crypto,” David said.

• Man’s Coinbase Account Hacked, $50K Ethereum Purchased, Class Action Lawsuit Alleges

A Texas man is suing Coinbase, the cryptocurrency trading platform. The man alleges his Coinbase account was breached to make a $50,000 unauthorized transaction. He says at least 1,000 other Coinbase accounts have also been breached.

• Nearly 75% of Stolen Ransomware Crypto Went to Russia in 2021, New Report Finds | February 15, 2022

A new report finds that Russia was linked to the majority of crypto ransomware invasions, siphoning the equivalent of $400 million in stolen funds to illicit addresses in that country. It appears Russia has strong ties to the majority of crypto hacks and cybercrimes, especially when you consider that 74% of ransomware revenue in 2021 — over $400 million worth of  cyptocurrency — went to accounts affiliated with the country in some way, according to a new report from cryptocurrency tracking and analytics firm, Chainalysis.

• Close to $12,000 STOLEN OUT OUT MY COINBASE… I WANT ANSWERS!!! Reddit User | 11 Months Ago

Case #05530638, #05542432. This all happened 4/15/21-4/16/21. How can I talk with someone from coinbase? I am so frustrated that someone stole my Bitcoin, ETH, and transferred $500 from my bank account and stole that too from my coinbase… Total almost $12,000. I am trying to understand what is going on and now I am completely blocked out of coinbase. I want answers!

• Coinbase Customers Up in Arms After Hackers Drain Crypto Wallets | Techradar.Pro |

An increasing number of users of the highly popular cryptocurrency exchange Coinbase have found their accounts on the platform empty after hackers managed to gain access to them and drain their cryptocurrency wallets.

• Katy man out of about $17K after his cryptocurrency account was hacked

Raza says Coinbase, the cryptocurrency exchange where he was robbed, has not been able to provide a solution and he thinks they need to step up security protocols.

• Coinbase customers with hacked accounts get no justice from ‘horrible’ US laws: Fintech lawyer

 In four minutes, cyber looters pilfered $34,123 worth of virtual currency from a Virginia resident’s Coinbase (COIN) account, the 38-year-old told Yahoo Finance.

• Coinbase hacked in the middle of the night $60k stolen. What should I do? Reddit | January, 2021

I received several txts last night sending me a 2fa code. I woke up and my bitcoin was transferred at 230am to some address. Any idea what happened? Was it my cell phone provider? Seems fishy to me since I could not detect any threats my phone. No idea how the culprit read my txt messages but oh well.

• All of My Crypto Was Stolen! On Coinbase | Reddit User | 8 Months Ago

I am an active user of CoinBase and somehow my account was breached even with 2FA enabled. The hackers stole all of the coins in my account by converting them to BTC and sending them to their wallet. They then deposited $1k USD and purchased BTC using my debit card and stole it before I could lock my account down.

• CoinBase Account Hacked – $23k Stolen and NO HELP from CoinBase | Reddit User | March 15 – 7 months

Taking my case to reddit. My account was hacked approximately 3 weeks ago and .50 BTC (approximately $23k USD) was stolen from my account. In summary, I decided to log into my account one day to check in on the balance. A hacker had locked my account out.

• Hackers drain cryptocurrency accounts of thousands of Coinbase users | PC Gamer

…hackers managed to get into the accounts and move funds off the platform, draining some accounts dry. Thousands of customers had already begun to complain to Coinbase that funds had vanished from their accounts…Coinbase did not disclose how much cryptocurrency was stolen in the attack.

• Coinbase slammed for what users say is terrible customer service after hackers drain their accounts | CNBC | August 24, 2021

CNBC interviewed Coinbase users across the country. The interviews and complaints revealed a pattern of account takeovers, where users see money suddenly vanish from their account, followed by poor customer service from the company. Since 2016, Coinbase users have filed more than 11,000 complaints against Coinbase with the Federal Trade Commission and Consumer Financial Protection Bureau, mostly related to customer service.

• Coinbase customers up in arms after hackers drain crypto wallets | August 26, 2021

An increasing number of users of the highly popular cryptocurrency exchange Coinbase have found their accounts on the platform empty after hackers managed to gain access to them and drain their cryptocurrency wallets.

• Hackers continue to steal entire accounts out of Coinbase. Many people had all their crypto stolen, but no answers from law enforcement or Coinbase on how to stop it.  | Reddit User

Loads of scams out there. Remember Coinbase does not support chat. You will never speak with a Coinbase employee.

• LOST $30K WORTH OF CRYPTO ON THURSDAY FROM COINBASE AND I CANT EVEN GET A REPLY TO TRY AND SAVE MY REMAINING $100K. GET YOUR MONEY OUT ASAP I AM ABOUT TO LOSE IT ALL

I have been trying to contact Coinbase support since Thursday when I saw $25k BTC sold from my wallet without my consent and could not receive any assistance at all from Coinbase to protect my investment.

• A string of thefts hit Bitcoin’s most reputable wallet service | The Verge | February 7, 2014

It was 10.6 bitcoins held in the wallet service Coinbase, the most well-funded and widely implemented service on the market.

• Coinbase is mistakenly draining customers’ bank accounts, and people are freaked | Mashable | February 15, 2018

All your money is gone. Whoops! Sorry for your loss. Some Coinbase account holders are losing their shit today as they look to their bank statements to find that the exchange has withdrawn excessive amounts of money from their accounts.

• Bitcoin Trading Website Coinbase Faces SEC Complaints Over Missing Crypto | Newsweek

California-headquartered crypto trading platform Coinbase—has been named in at least 115 complaints sent to the U.S. Securities and Exchange Commission and the California Department of Business Oversight

“I believe Coinbase has engaged in fraud by knowingly marketing a service it knows it cannot actually provide,” the filing from November last year read, adding: “Coinbase knows it does not have the infrastructure to timely and adequately meet customer needs.” At the time, bitcoin and other virtual currencies were rocketing in value, leading to an unprecedented interest from eager new investors

• T-Mobile Sued Again Over SIM Swap Crypto Losses | Law Street |

Yesterday, Kevin Frye filed a complaint in the Southern District of Florida against T-Mobile USA, Inc. for allegedly conducting a “SIM-Swap” without his consent, resulting in the loss of tens of thousands of dollars worth of cryptocurrency. The plaintiff claimed that “T-Mobile Representatives were either complicit with the theft or grossly negligent” since they have been on “notice for years that their security measures were not adequate.”

• SIM swapping victim alleges T-Mobile failed to stop $20,000 cryptocurrency scam | Cyberscoop | June 4, 2021

A Pennsylvania woman who lost the equivalent of $20,000 in cryptocurrency as part of a mobile fraud scheme says T-Mobile failed to protect her account in the face of a wave of similar incidents.

Nine months before scammers stole $20,000 from Kesler’s Coinbase account, the suit argues, Jack Dorsey was the victim of another high profile SIM swap, in which outsiders seized control of the Twitter CEO’s information. Security journalist Brian Krebs also covered the issue in 2018, specifically reporting that a T-Mobile retail store employee was under investigation for making an unauthorized SIM swap.

• Hackers Circle as Individual Investors Pour Cash Into Crypto | The Wall Street Journal | November 21, 2021

Mr. Harris sued T-Mobile in July, alleging the company’s practices didn’t meet federal standards and allowed a hacker to take over his phone number in 2020 and steal bitcoin worth nearly $15,000 at the time, and more now.

T-Mobile declined to comment on the suit but motioned to move the case to arbitration. Like Verizon and AT&T, the company requires arbitration to resolve disputes in its terms of service, often leading to closed-door settlements.

• Massive data breach at T-Mobile lands giant class action in KC federal court | Kansas City Business Journal | January 5, 2022

Hackers stole the personal identification data for millions of past, present and prospective T-Mobile customers, leading to a huge class-action lawsuit.

• Hacker lifts $1 million in cryptocurrency using San Francisco man’s phone number, prosecutors say | CNBC | November 21, 2018

Losing cellphone service is inconvenient. But in some cases, it also might mean you’re getting hacked.

“It’s a whole new wave of crime,” said Erin West, the deputy district attorney of Santa Clara County. “It’s a new way of stealing of money: They target people that they believe to have cryptocurrency,” she told CNBC.

• T-Mobile data breach and SIM-swap scam: How to protect your identity | Cnet | August 22, 2021

Just when you think the massive T-Mobile hack can’t get any worse, on Friday the carrier announced that over 50 million people, including current and former customers as well as prepaid customers, were affected by the breach. Information like Social Security numbers, driver’s licenses and account PINs were exposed.

• Another Bitcoin Investor Sues T-Mobile Over SIM Swap Attack | Coindesk | July 15, 2021

Cellphone carrier T-Mobile is being sued over allegations it failed to safeguard against a SIM swap scam that cost one customer $55,000 in lost.

• T-Mobile Sued Over $8.7M Stolen in SIM-Swap Attacks | Cointelegraph | July 23, 2020

The CEO of a crypto firm that recently settled with the SEC over its 2017 ICO is suing T-Mobile over a series of SIM-swaps that resulted in the loss of $8.7 million worth of crypto.

The suit accuses T-Mobile of having “abjectly failed” in its responsibility to protect the personal and financial information of its customers.

• Crypto Theft Victim Sues T-Mobile for Allowing SIM-Swap Attack | Finance Magnates | February 12, 2021

A victim of a crypto theft using SIM-swap attack has filed a lawsuit against T-Mobile, alleging the failure and negligence on the part of the US cell phone carrier in preventing these scams.

“This action arises out of T-Mobile’s systemic and repeated failures to protect and safeguard its customers’ highly sensitive personal and financial information against common, widely reported, and foreseeable attempts to illegally obtain such information,” the lawsuit alleged.

• T-Mobile being sued by victim of SIM swapping attack | Tmo News | February 11, 2021

T-Mobile is currently facing a complaint against one of the victims of SIM swapping, a type of fraud.

Cheng believed that the attack would not have happened if not for “T-Mobile‘s negligent practices and its repeated failure to adhere to federal and state law.”

• T-Mobile Is Facing Another SIM Swapping Complaint | Android Headlines |

T-Mobile is facing yet another SIM swapping complaint involving cryptocurrency theft. Last week, a Philadelphia man named Richard Harris filed a complaint in the Eastern District of Pennsylvania against the wireless giant alleging he lost approximately $55,000 worth of Bitcoin due to the company’s failure to safeguard his account

• Sim Swap Fraud, Suspicious of T-Mobile Stores & Employees | Reddit |

The sim was successfully swapped which means that either it was done without the pin or the person knew the pin. Again, this is only possible if it was a T-Mobile employee and most likely one of the employees that help a month prior during the line add and upgrade.

• WORST COMPANY ! LEAVE T-MOBILE TODAY! LOST THOUSAND OF DOLLARS BECUASE OF SIM SWAP! | Reddit |

When it comes to security or whatever it is leave T-Mobile. It is insider job someone is doing sim swaps.

• Why you can’t ignore the hackers and data breaches, like one at T-Mobile | Detroit Free Press |

T-Mobile confirmed this week that it was hit by a “highly sophisticated cyberattack” that exposed names, dates of birth, Social Security numbers and driver’s license information for more than 40 million consumers who had applied for credit with T-Mobile.

• Here’s how I survived a SIM swap attack after T-Mobile failed me – twice | ZDNet |

After a crazy week where T-Mobile handed over my phone number to a hacker twice, I now have my T-Mobile, Google, and Twitter accounts back under my control. However, the weak link in this situation remains and I’m wary of what could happen in the future.

• T-Mobile discloses data breach after SIM swapping attacks | Bleeping Computer |

American telecommunications provider T-Mobile has disclosed a data breach after an unknown number of customers were apparently affected by SIM swap attacks. SIM swap fraud (or SIM hijacking) allows scammers to take control of targets’ phone numbers after porting them using social engineering or after bribing mobile operator employees to a SIM controlled by the fraudsters.

• Fraudulent Sale of My SIM card | T-Community | 2019

Yesterday, someone went into a T-Mobile retail store used a fake California Drivers License to buy a copy of my SIM card.

• Here is how Coinbase and T-Mobile allowed a common thief to steal my bitcoin | LinkedIn |

And now for the crazy chain of events, where T-mobile allowed a complete stranger to do a SIM swap on me, and Coinbase allowed a complete stranger to change my Coinbase identity with no questions asked.

• SIM Swapping Victims File Lawsuits Against AT&T and T-Mobile for Cryptocurrency Thefts | WCC Tech |

Silver Miller said that “with little more than a persuasive plea for assistance, a willing telecommunications carrier representative, and an electronic impersonation of the victim,” criminals can manage to steal millions of dollars targeting unsuspecting victims.

• What happens when hackers steal your SIM? You learn to keep your crypto offline | TechCrunch |

Hackers swapped my T-Mobile SIM card without my approval and methodically shut down access to most of my accounts and began reaching out to my Facebook friends asking to borrow crypto.

• The Coinbase Crypto Heist: What We Know

Coinbase has admitted that hackers stole crypto from thousands of its users’ accounts over a three-month period.

• Coinbase hackers exploit multi-factor flaw to steal from 6,000 customers

Bad actors were able to infiltrate the accounts of and steal cryptocurrency from around 6,000 Coinbase customers by exploiting a multi-factor authentication flaw.

• Man out $75,000 after cryptocurrency stolen from Coinbase | News Miami

Matthew doesn’t know how the hackers were able to access his Coinbase account, but he remembered that when he signed up with Coinbase, they advertised they had insurance.

• My Binance account got hacked!! | Reddit | 2019

My binance account was hacked a day before. All my funds were converted into ETC and withdrawn from binance. I received no confirmation mail for withdrawals too. All security steps – login password, 2FA, confirmation mail were compromised.

• My Binance account got hacked | Bitcointalk | February 12, 2021

I don’t know how people can do this? I used strong password and also use all security option but no result this bloody f**king person got access my account.

• My Binance account was HACKED and DRAINED! | Steemit | 2018

The world’s crypto market turned red as rumours about Binance, the world’s most traded cryptocurrencies exchange, being hacked began circulating on the web yesterday morning. Some users reported that their alts on Binance were “market sold” at a loss and balances drained.

• Binance User Loses 2 BTC After Hacker Steals Password, How to Prevent Theft | News BTC | 2018

Yesterday, BeanThe5th made a thread in the popular /r/cryptocurrency subreddit, regarding a theft that has occurred on his or her Binance account. Many users who saw this Reddit thread were quite surprised, as it has become common knowledge that Binance is one of the most reputable and secure exchanges that exist.

• Binance Hit By $570 Million Blockchain Bridge Hack | Investopedia | October 07, 2022

Hackers have stolen $570 million from a blockchain linked with Binance. The largest crypto exchange has had to temporarily halt the operation of its Binance Smart Chain after the exploit.1 Since the hack, Binance Coin’s (BNB) price has also dropped noticeably, with the token down 3.5% in the last 24 hours. At the time of writing, it is trading at $281.

• If bitcoin is so safe, why does it keep getting hacked? | Vox | May 9, 2019

Hackers just stole $40 million worth of bitcoin from Binance, one of the largest cryptocurrency exchanges in the world. It’s hardly the first time crypto has been targeted by thieves. For a technology that’s supposed to be hyper secure, in practice, it’s often proven itself to be, well, not.

• Binance investigates hack affecting a number of crypto tokens | CNN | December 2, 2022

Binance, the world’s biggest cryptocurrency exchange, is investigating a hacking incident that affected a number of crypto tokens Friday. According to its founder and CEO Changpeng Zhao, a private key, used to encrypt or decrypt data, had been hacked.

“Initial analysis is developer private key was hacked, and the hacker updated the smart contract to a more malicious one,” Zhao said on Twitter, adding that the Ankr and Hay tokens were affected.

• Binance Hack Steals $41 Million From ‘Hot Wallet’ | Security Intelligence | May 13, 2019

On Tuesday, May 7, Binance, the world’s largest cryptocurrency exchange, announced that malicious actors had compromised user application programming interface (API) keys and two-factor authentication (2FA) codes, enabling them to access the company’s hot wallet and steal more than 7,000 bitcoin (BTC).

• $570 million worth of Binance’s BNB token stolen in another major crypto hack | CNBC | October 7, 2022

Cryptocurrency exchange Binance temporarily suspended its blockchain network after hackers made off with around $570 million worth of its BNB token.

• My Binance Account with $50k has been Hacked, Please Help Me | Reddit | 2018

Hello, I have been impersonated and sim swapped, they hacked my emails, twitter, facebook, exchanges, literally everything including binance, which they stole 2 btc (daily limit) from today and will steal more if the account isn’t frozen by tomorrow. They logged in and somehow disabled my google authenticator and I cannot get into my account, microsoft is working on giving me the hacked email back that is related to binance but they say it will take 3 days to escalate the ticket. In 3 days the hackers will have already taken my entire balance so I really need the binance account frozen now before they can steal more.

• Binance Account Hacked! With 2FA on. $20,000 | Reddit | 2022

My account was compromised with multiple security layers on it. Google 2FA and Email Authentication which i both had on it. My google 2FA was on a device only for my google authentication apps, I take necessary steps to prevent hacks & The crazy thing is i always receive emails when anything is changing or so on so when the hack was happening binance did not not alert my email or anything. All my securities was reset and email was changed.

• I got HACKED | Reddit | 2022

Someone made a withdrawal on my Binance account when I was sleeping last night and took all my money away. My Binance account had 2FA on and everything was safe and secure but somehow the hacker managed to hack it and withdrew all my holdings out. Binance support does not have a hacked feature, so it’s pissing me off. Is there anyway that I can get it back? This is all my life savings.

• Gemini Security Failures to Blame for Crypto Hack, IRA Suit Says | Bloomberg Law | June 6, 2022

Crypto exchange Gemini Trust Co. lacked proper safeguards that resulted in retirement-account holders losing around $36 million in Bitcoin and Ether when the master key got hacked, IRA Financial Trust said in a new lawsuit.

• Compromised Data Of 5.7M Gemini Crypto Exchange Users Given Away On Hacking Forums | Hot Hardware | December 16, 2022

Then, on Tuesday of this this week, someone posted the entire stolen database for free on Breach Forums. It’s unclear whether this individual previously attempted to sell the database but was unsuccessful, covertly purchased it, or otherwise obtained it through some other means. We also still don’t know when the data breach occurred, though the second post attempting to sell the database claimed it was obtained in September.

Regardless, the personal information of Gemini’s 5.7 million customers is now publicly available online.

• Hacker lifts $1 million in cryptocurrency using San Francisco man’s phone number, prosecutors say | CNBC | November 21, 2018

San Francisco resident Robert Ross, a father of two, noticed his phone suddenly lose its signal on Oct. 26. Confused, he went to a nearby Apple store and later contacted his service provider, AT&T. But he wasn’t quick enough to stop a hacker from draining $500,000 from two separate accounts he had at Coinbase and Gemini, according to Santa Clara officials.

• Account Hacked – No support from Gemini | Reddit | 2021

My account on Gemini was hacked. My password and email address on Gemini were both changed. I have been trading on Gemini for 4 years. Gemini now claims that there is no account at Gemini with my email. I have a ton of USD in my Gemini account and they will not even confirm that the funds are frozen.