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Beyond the immediate financial loss, SIM swap victims suffer long-term repercussions on their credit and emotional well-being. Our sim swap lawyer and cryptocurrency recovery attorney can help.
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In the digital age, the threat of SIM SWAP has become increasingly prevalent, particularly for cryptocurrency holders. Victims of this type of fraud may find recourse through legal avenues, including lawsuits against major mobile carriers such as AT&T, Verizon, T-Mobile, and cryptocurrency exchanges like Coinbase, Gemini, and Binance. If your cryptocurrency has been stolen due to unauthorized access to your mobile account, pursuing legal action may help you recover your losses.
What Is a SIM Swap?
A SIM card swap can occur rapidly, often within minutes. This fraudulent act exploits vulnerabilities in a mobile carrier’s security systems, allowing an unauthorized third party to access a customer’s account. Typically, the hacker obtains personal information through fraud, data breaches, or other security failures.
Once the hacker has sufficient information, they can convince the mobile carrier to transfer the victim’s SIM card, or Subscriber Identity Module, to another account. This allows the third party to bypass two-factor authentication measures that rely on text messages or phone calls. As a result, the hacker gains control over the victim’s phone number and can access sensitive accounts, including cryptocurrency wallets or exchanges.
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.
Pinpoint what caused your loss whether it was because of a SIM Swap or other breach of your data.
Our team will work with you to come up with Creative and practical tactics to ensure the best possible outcome.
Once we have identified the cause of the breach, we will identify who allowed your loss to occur and seek to work towards a settlement or a trial.
