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Blockchain & Cryptocurrency

AT&T Faces $224 Million Lawsuit Over Cryptocurrency Theft

The Infinite Brief
AT&T is now facing a $224 million lawsuit over the theft of cryptocurrency, being accused of gross negligence and fraud, by cryptocurrency entrepreneur and investor Michael Terpin.

Terpin, the founder and CEO of Transform Group which has launched a number of high-profile ICOs including Ethereum, Golem and Gnosis, filed a complaint with the US District Court over the theft of three million coins via SIM fraud in January 2018.

 At the time of the theft, the coins were worth over $24 million, and Terpin is looking to sue for an additional $200 million in punitive damages.

 AT&T responded to the complaint in an email to Reuters, saying that the telecommunications giant would “dispute these allegations” and “[present] their case in court.”

Curated from Chainstate

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