RATE Group | U.S. investor sues AT&T for $224 million over loss of cryptocurrency
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U.S. investor sues AT&T for $224 million over loss of cryptocurrency

17 Aug U.S. investor sues AT&T for $224 million over loss of cryptocurrency

Posted at 00:44h in Cryptocurrency News by

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NEW YORK (Reuters) – U.S. entrepreneur and cryptocurrency investor Michael Terpin filed a $224 million lawsuit on Wednesday against telecommunications company AT&T (T.N), accusing it of fraud and gross negligence in connection with the theft of digital currency tokens from his personal account.

In a 69-page complaint filed with the U.S. District Court in Los Angeles, Terpin alleged that on January 7, 2018, the tokens were stolen from him through what he alleged was a “digital identity theft” of his cellphone account. In the complaint, he said 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.

An AT&T logo is pictured in Pasadena, California, U.S., January 24, 2018. REUTERS/Mario Anzuoni

The complaint said…

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