Recover your Losses after a SIM Swap Hack

Please Note:

• If your loss was due to clickbait or fraud, we cannot help.
• We also cannot recover funds lost on exchanges outside of the US.
• If an exchange is telling you that you need to make a tax payment and then they will release your funds, you are likely the victim of an unrecoverable fraud, and you should not make any tax payments or additional transfers to the thieves.

Cellular and cell phone companies have a legal obligation to protect their customers from hackers. The Federal Communications Act requires telecommunications carriers to protect the confidentiality of their consumers’ personal information. Carriers must use reasonable measures to protect against unauthorized access to their consumers’ information.

When a carrier allows a sim swap without appropriately confirming the consumer’s identity, the carrier may be liable for any losses that follow. In many instances, a thief will call a carrier in the middle of the night pretending to be the customer and ask for help switching the customer’s sim card to a new phone. Once the carrier’s customer service makes the change, that thief has full access to the consumer’s phone and the personal information in the customer’s apps. The thief then begins changing passwords and emails and making withdrawal requests from the customer’s financial accounts.

These types of hacks can result in substantial losses for customers who hold cryptocurrency. Carriers who were negligent in allowing the SIM swap can be accountable for these losses. 

If you were a victim of theft after a carrier allowed a SIM swap on your phone, contact us today for a free consultation on if you may be able to recover.

The information in this blog post is provided for informational purposes only and is not intended to be legal advice. You should not make a decision whether or not to contact an attorney based upon the information in this blog post. No attorney-client relationship is formed nor should any such relationship be implied. If you require legal advice, please consult with an attorney licensed to practice in your jurisdiction.