BitAngels Founder Loses $24 million in cryptocurrency theft
Michael Terpin Sues AT&T.
Why would having his phone number allow this to occur you may ask? The reason is he was using SMS 2FA as his security to his online wallet. The complaint states that the actual theft took place on the 7th January 2018. The interesting point to note here is that previously, on June 11th 2017, Terpins’ phone had already been hacked and after a complaint to AT&T he was assured by them that they would increase the security on his account. So he was aware that this could happen and yet continued to use a very weak form of 2FA and not consider changing to Google Authenticator or even more obviously, some form of cold storage.
This is an extraction from the complaint which can be read in full here:
Please leave your comments below – especially if you’ve had a similar experience of these types of scam.
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