A legal firm, Silver Miller, has an inclination for lawsuits that are crypto-related, taking on cases in relation to SIM swapping that lead to significant crypto losses. Silver Miller will be taking up complaints against one of the biggest US-based operators, like AT&T, T-Mobile, and Verizon as we are reading further in the cryptocurrency news today.
In a recent statement, Silver Miller declared that he responds already to cases of SIM identity theft, and is resolving some of the claims. The mobile operators are breaking their own rules and procedures easing the SIM swapping beside reassurances, which has been discovered in research by Silver Miller.
It is probable to break into personal banking or exchange accounts, as mobile phones are frequently used as 2FA tools. As a result, from SIM swapping there was a considerable amount of funds drawn off cryptocurrency from owners over the years, afore any new tools of authentication were implemented.
Evidence was found by the firm that mobile company representatives had broken certain rules and procedures and even assisted criminal circles that aimed at hacking valuable SIM clients. Private arbitration was taken up as an alternative to public litigation, in an attempt to mend those cases by the firm. It is a vital priority for the firm to protect clients’ identities, is decided by Silver Miller, being once a victim of digital theft.
Everyone whose SIM was compromised is invited by Silver Miller, particularly in the cases where “enhanced security” was promised, to seek legal tools for redress, with a higher potential for arbitration to achieve the results even without a trail.
One of the hardest stricken by SIM swapping attacks, communities is the crypto community. $550,000 worth crypto assets theft is one of the most recent cases in which two men were charged in Boston. Two residents of Brockton, Massachusetts, were charged with conspiracy, wire fraud, computer fraud, and identity theft, Eric Meiggs and Declan Harrington both in their early twenties, on the basis of targeting 10 identified persons from the cryptocurrency community in the US.
The greatest risk is now only present on social media platforms and for crypto influencers or anyone that basically has a whale wallet. SIM swapping cannot affect the wallets but it can empty the exchange accounts or any other custodial wallet where a third-party is able to win the crypto assets.