The Fall of a Crypto Exchanger

Cryptocurrencies have been gaining momentum in the last few years as an alternative means of currency. However due to the means by which cryptocurrencies exist, they are susceptible to abuse and have been many time en-counting.

Many news posts and articles lately involve the same old story of hackers gaining control of computers and demand a ransom in cryptocurrencies using ransomware, or hackers have stolen online crypto wallets, or really anything you could probably come up with. It seems like hackers and crypto have been a match made in heaven, and sadly a certain perturbed man would probably agree.

Carlos Tapang of Washington state blames T-mobile for it’s lack of responsibility when his account was hacked and his cryptocoins stolen. The hackers had hacked Carlos’ phone and then altered the password on a crypto account and transfered his coin into the BitCoin and cashed out, netting a probable $20,000. After the hackers had hacked the phone, they also cancelled his number and transferred to AT&T in which T-mobile was not able to recover for over a day.

The suit points the finger to T-mobile for being at fault because apparently T-mobile had stated they would be adding PIN codes to Tapang’s account but they never did. Not only that, but Carlos states that through multiple attempts hackers can gain access to accounts through calling T-mobile’s support line and that his leaves him still vulnerable, as well as many others. To support his claims, Carlos had brought statements of anonymous users online about similar breaches they had occur with their T-mobile accounts.

Carlos is suing under the allegations that the event has caused “emotional distress” and a lot of “time, energy and expense”, so he is seeking¬† damages and injunctive relief, which may result in additive security measures by T-mobile.

Crypto in all forms is a risky endeavor, and hackers are always on the watch for a new trick to play and coin to pull.

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