RATE Group | Investor sues AT&T for $224m over loss of cryptocurrency
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Investor sues AT&T for $224m over loss of cryptocurrency

20 Aug Investor sues AT&T for $224m over loss of cryptocurrency

Posted at 14:07h in Cryptocurrency News by

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U.S. cryptocurrency investor Michael Terpin has filed a $224 million lawsuit against telecommunications company AT&T, Reuters reported earlier. Terpin is accusing the company of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account.

Terpin alleged that on January 7, 2018, the tokens were stolen from him through a “digital identity theft” as he called it, of his cellphone account and he added that AT&T was his service provider.

In an emailed response, an AT&T spokesman said:

We dispute these allegations and look forward to presenting our case in court.

At the time of the theft, the three million stolen tokens were worth $23.8 million, the complaint said. Terpin is also seeking $200 million in punitive damages.

The complaint said that AT&T had been previously contacted by law enforcement authorities about such frauds.

Cryptocurrencies have a market capitalization of about $200 billion, according to data from virtual coin tracker…

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