T-mobile Admits Customer Information Was Hacked, Putting Crypto Accounts At Risk

Crime, FinTech, News | August 27, 2018 By:

Phone company T-mobile has confirmed that its account data has been breached by hackers, putting its customers at risk. The telecommunications giant revealed the hack in a letter to customers sent last week.

“On August 20, our cyber-security team discovered and shut down an unauthorized access to certain information, including yours, and we promptly reported it to authorities,” the note said. “None of your financial data (including credit card information) or social security numbers were involved, and no passwords were compromised. However, you should know that some of your personal information may have been exposed, which may have included one or more of the following: name, billing zip code, phone number, email address, account number and account type (prepaid or postpaid).”

The T-mobile incident arrives on the heels of a similar problem experienced by entrepreneur Michael Terpin, who has filed a $223.8 million lawsuit against AT&T, alleging 16 counts of fraud, gross negligence, invasion of privacy, unauthorized disclosure of confidential customer records, violation of a consent decree, failure to supervise its employees and investigate their criminal background, and related charges in US District Court in Los Angeles.

The Terpin suit arises from the January 7, 2018 theft of more than 3 million cryptocurrency tokens from Terpin by way of a digital identity theft by an AT&T agent of Terpin’s cellphone account.  The funds were then transferred to an international criminal gang being pursued by the FBI and multiple other federal and state law enforcement agencies.

Security experts have long warned about the massive potential for security breaches caused by using telephone numbers as identification. Particularly since many cryptocurrency users access their accounts via mobile phones, such massive hacks have the potential to cause serious financial damage.

T-mobile is urging customers to contact it with any concerns. If you are a T-Mobile customer, you can dial 611, use two-way messaging on MyT-Mobile.com, the T-Mobile App, or iMessage through Apple Business Chat.