Due to a "SIM card swapping attack" leading to the theft of Crypto Assets, T-Mobile was ordered to pay $33 million.

According to ChainCatcher news and a report by Greenberg Glusker, T-Mobile has faced cryptocurrency theft due to "multiple security vulnerabilities" that led to SIM card swapping attacks. The law firm Greenberg Glusker announced on March 20 that it has secured a $33 million arbitration award against T-Mobile. The arbitration took place in the fall of 2023 and involved 12 days of testimony. According to Greenberg Glusker, the arbitration panel found that T-Mobile was responsible for multiple security failures that led to SIM swap attacks, resulting in the theft of Crypto Assets.