T-Mobile awarded $33 million for cryptocurrency theft caused by SIM card attack

Law firm Greenberg Glusker has announced that it has won a $33 million arbitration award against telecom giant T-Mobile, calling the result a key milestone in holding telecom operators accountable for cryptocurrency theft related to SIM swaps. The arbitration panel found T-Mobile responsible for multiple of its security failures that allowed SIM swapping attacks to occur and led to cryptocurrency theft.