T-Mobile Pays $33 Million in SIM Swapping Lawsuit

T-Mobile has paid $33 million as part of a private arbitration process following a SIM swapping attack that resulted in the theft of cryptocurrencies. This attack allowed cybercriminals to transfer the victim's phone number to another device, thereby gaining access to their cryptocurrency accounts. The specific technical details of the attack have not been disclosed, but the settlement amount indicates the significant financial impact of this fraud.