Bitcoin Investor Sues AT&T After Losing $23 Million In SIM Swap Hack


Stephen Palley is quoted in this article regarding a cryptocurrency investor who says he lost $24 million after his phone number was stolen in two hacks and is suing his wireless carrier for more than $200 million in damages. The reporter notes that in Stephen's view "the case is unlikely to go to trial because carriers include arbitration clauses in their terms of services with their customers, and  "the security issues pointed out in the lawsuit are serious, but [it] may not be appropriate to deal with them in court. “Some of that maybe more appropriately addressed by regulation or updated legislation. I’m not sure that after-the-fact litigation will solve that,” Palley told Motherboard in a phone call.