A known cryptocurrency investor has resumed his lawsuit against AT&T a multinational telecommunication company based in Downtown Dallas. Michael Terpin claims the operators neglected to protect his data resulting in losses of over $20 million in cryptocurrencies.
The lawsuit came into the mainstream when Terpin filed a case against a high school passed over the allegation of stealing $24 million using a SIM swap technique. When Ellis Pinsky (main accused) and his acquaintance offered a bribe to an employee of AT & T to help them gain the information of the investors using SIM swap.
After gathering the crucial information about Terpin the teenager bypassed the two-factor authentication and gained access to his wallet holding cryptocurrencies.
It is crucial to note that the alleged thief lost the case in 2019 and since then he has paid $2 million to the victim and also agreed to act as an informant in the case against AT & T.
In the past few years, the issues related to SIM swapping and cloning have surged significantly, yet there is a need for a strict approach in order to protect users’ data and other linked accounts.
AT & T(NYSE:T) stock price updates
When writing, AT&T (NYSE: T) was trading at $22.19 after adding 2.64% in a week and surged over 12.50% in the past 30 days. At the same time, the stock prices were trading above 20, 50, 100, and 200 days EMA.
Compared to the market capitalization in 2023 the cap of AT&T surged over 32% in 2024 reaching $159.10 billion making it the 95th most valuable company by market cap. The nearest visible resistance of T stock is $22.34 followed by $22.92; however, its first support is $20.50 followed by $19.92.
Data available on TradingView states that 7.15 billion T shares are free-floating and the remaining 20.62 million are closely held.
In Q2, 2024 AT & T reported EPS was $0.75 (earnings per share) however the expected EPS for 2024 is $2.20. There are expectations that the company might report $122.59 billion in revenue.
Other crypto market news updates
On October 03, 2024, Todayq reported that Franklin Templeton, a leading asset manager, has recently filed a proposal to the US SEC to launch a Bitcoin and Ethereum index ETF.
Additional information notes that the Bitcoin & Ethereum Crypto Index ETF by Franklin Templeton will enable investors to gain exposure to BTC and Ether in a single fund.
In a major action, the Australian Police Department busted a scam recovering $9.3 million in cryptocurrencies. In August the enforcement agency arrested Jay Je Yoon Jung over the charges of association with the fraudulent scheme.
Scammers and bad actors have been troubling digital assets at the verge; since the beginning of 2024 till writing the market lost over 1.25 billion in digital. Alone in the market saw a wipeout of $750 million across 155 security incidents.
Crypto market price updates
The growing geopolitical tension hurt the market sentiments until publishing the fear and greed index was 36 determining fear among crypto investors. At the same time, the cryptocurrency market was $2.01 trillion as it declined 1.25% in the past 24 hours and over 5% in the past seven days.
Bitcoin was trading at $60,532 in the past 24 hours it fell 0.94% and its trading volume reached $41,110,704,498 after falling 19%, the market cap was $1,195,918,442,019 falling 1.21%.
