Federal judge refuses to dismiss $224M lawsuit against AT&T for SIM-swap bungle

ronjor · Jul 23, 2019

David Canellis 23 July 2019

This investor lost $24M in cryptocurrency after he was SIM-swapped, twice
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guest · Feb 25, 2020

Court Order Lets Terpin’s Claims Against AT&T Mobility Proceed to Trial; Terpin Will File Additional Allegations to Preserve Punitive Damages Relief for up to $200 Million
February 25, 2020
https://www.globenewswire.com/news-...ive-Damages-Relief-for-up-to-200-Million.html

The Hon. Otis Wright II ruled yesterday that plaintiff Michael Terpin can proceed with statutory, contract, and tort damages claims against AT&T Mobility for $24 million resulting from the theft of cryptocurrency that he contends was directly caused by an AT&T agent bribed by a criminal gang.

The Court ruled in Terpin’s favor, denying AT&T’s motion to dismiss and finding that Terpin had adequately alleged both proximate cause between AT&T’s conduct and the theft as well as the requisite special relationship to invoke the economic loss doctrine to pursue certain non-contract claims. The decision was entered on Monday, February 24, 2020.

I am grateful that despite the delays and AT&T’s attempts to obfuscate the facts, the Court was able to wisely ascertain that we had indeed met all the conditions to demonstrate a sufficient connection between AT&T’s behavior and the theft of my cryptocurrency to proceed to trial on those claims,” said Terpin.
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guest · Apr 1, 2020

AT&T Seeks Dismissal of $200M in Damages for 2018 SIM-Swap Attack
April 1, 2020
https://cointelegraph.com/news/att-seeks-dismissal-of-200m-in-damages-for-2018-sim-swap-attack

AT&T is again seeking to have punitive damages claims of $200 million dismissed in an ongoing court case between the telecoms giant and crypto investor Michael Terpin — who asserts he lost $24 million in crypto as a result of AT&T’s negligence in 2018.
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guest · May 8, 2020

US Cryptocurrency Investor Files $71.4 Million Lawsuit Against A Teenager Over Alleged SIM Swap
May 8, 2020
https://cryptopotato.com/us-cryptoc...uit-against-a-teenager-over-alleged-sim-swap/

An 18-year old boy is accused of stealing $24 million in cryptocurrencies. An advisor in blockchain companies claims that the teenager along with his crew hacked his phone to conduct the theft.
A Cybercrime Raid
Last Thursday in New York, Michael Terpin, founder and chief executive officer of Transform Group (a San Juan, Puerto Rico-based blockchain company) sued now 18-years old Ellis Pinsky for a cyber heist. Per the accusations, Pinsky and his team of hackers targetted him in 2018 (when Pinsky was just 15), by hacking his mobile phone account through the SIM swap.

In a reported statement, Terpin says that the teenager and his fellow hacker crew are “computer geniuses with sociopathic traits who heartlessly ruin their innocent victims’ lives and gleefully boast of their multi-million-dollar heists.”
Terpin’s accusation steps on a federal racketeering law, seeking more than $71 million from the teenager.
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guest · May 27, 2020

How ‘Baby Al Capone’ pulled off a $23.8 million crypto heist
May 23, 2020
https://nypost.com/2020/05/23/baby-al-capone-ellis-pinsky-pulled-off-a-23-8-million-crypto-heist/

In January 2018, a team of some half-dozen computer hackers — scattered across Europe and the United States — scammed their way into Michael Terpin’s cryptocurrency account, fleeced it and laundered the funds: some $23.8 million, according to a bombshell lawsuit.
Allegedly at the center of the heist was Westchester teen Ellis Pinsky.

Pals outside the heist apparently viewed Ellis as a virtual-money wunderkind. “His best friend thought he was making money through trading Bitcoin and stock,” the insider said.
But the complaint alleges that Ellis was the apparent ringleader in the scheme against Terpin, who is a pioneer in the world of cryptocurrency: “In his early teens, [Ellis] began hacking computers with the mission of accessing his victims’ private accounts where they store their cryptocurrency holdings or private information.” [...]
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Federal judge refuses to dismiss $224M lawsuit against AT&T for SIM-swap bungle

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