T-Mobile Distributes Settlement Funds Following 2021 Data Breach

According to BlockBeats, T-Mobile, a subsidiary of Deutsche Telekom, has begun distributing $350 million in settlement funds to millions of customers affected by a major data breach in 2021. The cyberattack exposed personal data of approximately 76 million U.S. customers, including names, addresses, and social security numbers. The settlement, agreed upon in July 2022, provides eligible customers with compensation ranging from $25 to $100, depending on their claim choices, with some individuals receiving up to $25,000 for documented significant losses. Additionally, affected customers are offered two years of free identity protection services. T-Mobile has stated that it has enhanced its cybersecurity protocols to prevent future incidents, although the settlement does not include an admission of wrongdoing. Earlier this year, T-Mobile was ordered to pay $33 million in a lawsuit related to cryptocurrency thefts resulting from SIM card attacks.