Encrypted investor Michael Terpin urges FCC to take urgent action against SIM card exchange fraud

According to foreign media today, encrypted investor Michael Terpin has written an open letter to Federal Communications Commission (FCC) Chairman Ajit Pai asking for urgent action on SIM card exchange fraud. In SIM card exchange fraud, criminals pretend to be the owner of the victim's mobile number, convincing the telecom operator to allow them to use the SIM card. In August last year, Terpin sued phone operator AT&T, claiming that AT&T employees were involved in SIM card exchange fraud, and hackers stole $24 million in cryptocurrency. Terpin requires $23.8 million in compensatory damages and $200 million in punitive damages.