AT &T faces lawsuit after SIM swap attack led to $560,000 loss in crypto
US telecom giant AT &T is facing another lawsuit after a customer lost a large amount of crypto in a SIM swap attack.
The scammer robbed the customer of 159.8 ETH
Plaintiff Jamarquis Etheridge, a Texas resident, filed the lawsuit on September 15 with District Court. Etheridge alleges that AT &T failed to implement reasonable and appropriate safeguards to prevent unauthorized access to his wireless account. The reason for the lawsuit is that the malicious actor managed to gain unauthorized access to Etheridge's wireless account and drain his cryptocurrency account on September 10. AT &T was slow to respond and could not stop the security breach until the next day.Plaintiff, who has been a customer of AT &T since 2009, was unable to use his cell phone number to contain the attack and ultimately lost 159.8 in ETH worth approximately $560,000 at the time. According to the complaint, AT &T was aware of the threat and even posted warnings but did not do enough to protect this customer.
What is a SIM swap attack?
The attack, known as SIM swapping, is a form of fraud that exploits the phone's authentication. The scammers typically find the victim's cell phone number from online data, social media, or even a stolen device, then calls the provider, in this case AT &T, and impersonate the victim, using other personal information that can often be found online.The scammer then asks the provider to activate a new SIM in their possession and proceeds to port the victim's number to the new SIM. They can then access financial accounts such as crypto exchanges that rely on phones for authentication methods such as one-time SMS passcodes.
Not the first time AT &T was not able to protect its customers
It is not the first time that AT &T is facing being sued for this particular reason. A crypto investor named Seth Shapiro sued AT &T in December 2019 after losing $1.8 million in crypto in a similar SIM swap attack and an alleged failure by the operator to protect its customers. Another SIM swap victim, Michael Terpin, claimed he lost $24 million in cryptocurrencies in 2018 in a similar attack due to AT &T's negligence. In November of that year, the California-based Robert Ross lost $1 million worth of cryptocurrencies after a hacker managed to control his AT &T phone.The telecom giant has fought back against previous lawsuits and will likely do the same with this latest one.
Continue reading by joining Cryptonary Pro
$997/year
Get everything you need to actively manage your portfolio and stay ahead. Ideal for investors seeking regular guidance and access to tools that help make informed decisions.
For your security, all orders are processed on a secured server.
As a Cryptonary Pro subscriber, you also get:
3X Value Guarantee - If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
24/7 access to experts with 50+ years’ experience
All of our top token picks for 2025
On hand technical analysis on any token of your choice
Weekly livestreams & ask us anything with the team
Daily insights on Macro, Mechanics, and On-chain
Curated list of top upcoming airdrops (free money)
3X Value Guarantee
If cumulative documented upside does not reach 300% during your 12-month membership, you can request a full refund.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut through the noise and consistently find winning assets.
Our track record speaks for itself
With over 2.4M tokens and widespread misinformation in crypto, we cut
through the noise and consistently find winning assets.
Frequently Asked Questions
Can I trust Cryptonary's calls?
Yes. We've consistently identified winners across multiple cycles. Bitcoin under $1,000, Ethereum under $70, Solana under $10, WIF from $0.003 to $5, PopCat from $0.004 to $2, SPX blasting past $1.70, and our latest pick has already 200X'd since June 2025. Everything is timestamped and public record.
Do I need to be an experienced trader or investor to benefit?
No. When we founded Cryptonary in 2017 the market was new to everyone. We intentionally created content that was easy to understand and actionable. That foundational principle is the crux of Cryptonary. Taking complex ideas and opportunities and presenting them in a way a 10 year old could understand.
What makes Cryptonary different from free crypto content on YouTube or Twitter?
Signal vs noise. We filter out 99.9% of garbage projects, provide data backed analysis, and have a proven track record of finding winners. Not to mention since Cryptonary's inception in 2017 we have never taken investment, sponsorship or partnership. Compare this to pretty much everyone else, no track record, and a long list of partnerships that cloud judgements.
Why is there no trial or refund policy?
We share highly sensitive, time-critical research. Once it's out, it can't be "returned." That's why membership is annual only. Crypto success takes time and commitment. If someone is not willing to invest 12 months into their future, there is no place for them at Cryptonary.
Do I get direct access to the Cryptonary team?
Yes. You will have 24/7 to the team that bought you BTC at $1,000, ETH at $70, and SOL at $10. Through our community chats, live Q&As, and member only channels, you can ask questions and interact directly with the team. Our team has over 50 years of combined experience which you can tap into every single day.
How often is content updated?
Daily. We provide real-time updates, weekly reports, emergency alerts, and live Q&As when the markets move fast. In crypto, the market moves fast, in Cryptonary, we move faster.
How does the 3X Value Guarantee work?
We stand behind the value of our research. If the documented upside from our published research during your 12-month membership does not exceed three times (3X) the annual subscription cost, you can request a full refund. Historical context: In every completed market cycle since 2017, cumulative documented upside has exceeded 10X this threshold.
Recommended from Cryptonary
