T- Mobile agrees to pay $350 million for Cyber Attack Data Breach 2021

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The data breach that occurred on the servers of T-Mobile last year is soon going to fetch an eligible for a payout to settle a litigation. However, the pay will be done scientifically and only to those millions whose personal information was exposed to the hackers.

T-Mobile issued a public statement that it was not guilty of wrongdoing, but to the best interest of its customers, it decided to amicable to settle for the class action filing for a sum accounting to $350 million.

“We care the most about our customers and we will do everything to protect the privacy of their information,” said a spokesperson from T-Mobile.

It also added in its statement that like every other company, it was not immune to cyber-attacks. But acknowledged that it has taken all measures to protect the information of its customers in the near future.

Therefore, with the agreement to hand out a payout of $350 million, T-Mobile has turned into the second largest data breach settlement company in the history of United States, after Equifax, that agreed to pay $700 million to affected customers of data breach that occurred in 2019.

NOTE- On August 15th last year the American telecom company issued a public statement about a possible cyber attack that led to information leak including names, addresses, birth dates, social security numbers, driving license details and IMEI codes of consumer devices. Later in a detailed investigation, it was revealed that data of users pertaining to 76.6 million people was accessed by hackers. To prevent further damage to the company’s image, the company has now paid $350 million and also added that it will invest $150 million to improve data security on its servers. According to unreliable sources, each affected customer can get $25 as settlement payment and to those living in the state of California, the settlement price is fixed at $100.

 

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Naveen Goud is a writer at Cybersecurity Insiders covering topics such as Mergers & Acquisitions, Startups, Cyber Attacks, Cloud Security and Mobile Security

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