Cryptocurrency Investor Sues AT&T After Loss of Digital Tokens -Reuters

   By Stephen Nakrosis 
 

--A cryptocurrency investor in the U.S. is suing AT&T Inc. (T) for $224 million, claiming fraud and gross negligence, following the theft of digital currency tokens, Reuters reports Wednesday.

--According to the lawsuit, filed in the U.S. District Court in Los Angeles, investor Michael Terpin had $23 million of digital currency tokens stolen from his account after the "digital identity theft" of his cellphone account, the report said.

--Mr. Terpin said AT&T was his cellphone service provider at the time of the theft, and is seeking $23.8 million to cover the loss of the tokens and $200 million in punitive damages, the report said.

--An AT&T spokesman said "We dispute these allegations and look forward to presenting our case in court."

Full story: https://www.reuters.com/article/us-cryptocurrency-at-t-lawsuit/u-s-investor-sues-att-for-224-million-over-loss-of-cryptocurrency-idUSKBN1L01AA

--Write to Stephen Nakrosis at [e-mail]

(END) Dow Jones Newswires

August 15, 2018 11:36 ET (15:36 GMT)

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