https://wccftech.com/sim-swapping-victims-sue-att-t-mobile-cryptocurrency/

A cryptocurrency-focused law firm has filed arbitration claims against telecom giants AT&T and T-Mobile on behalf of victims of SIM swapping hacks. SIM swapping or SIM hijacking attacks involve the theft of a phone number that is used to hijack banking or social media accounts using the inherent vulnerability of two-factor authentication.

“By leaving holes in their security protocols and failing to properly train and monitor their employees, cellphone providers have assisted thieves in remotely taking over the SIM cards in people’s smartphones, accessing financial records and account information of the victims, and emptying the victim’s accounts of cryptocurrency and other valuable assets,” U.S. law firm Silver Miller said in a press release.