[PRESS RELEASE – Miami, FL, USA, September 22nd, 2026]
Kaplan Rothstein Prüss Peraza (KRP2), a distinguished cybersecurity and knowledge privateness litigation agency, has introduced the enlargement of its specialised authorized observe centered on recovering digital belongings misplaced to SIM swap fraud. The agency is scaling its plaintiff-side litigation efforts throughout Florida, New York, and California to pursue civil restoration claims in opposition to main telecommunications carriers and cryptocurrency exchanges that fail to guard person accounts from preventable safety breaches.
SIM swap assaults happen when malicious actors exploit vulnerabilities in cell provider verification processes to hijack a sufferer’s telephone quantity, permitting them to bypass SMS-based two-factor authentication (2FA). In keeping with the FBI Web Crime Grievance Heart (IC3) annual report, US victims suffered almost $21 million in losses from SIM swapping in 2025. Moreover, blockchain analyst ZachXBT documented the theft of over $82 million in SIM swap incidents in 2024, underscoring the extreme threat going through retail and institutional traders alike.
Because of these institutional vulnerabilities, KRP2’s expanded observe supplies a direct civil litigation route for victims who’ve misplaced cryptocurrency because of a SIM swap assault. Slightly than focusing solely on nameless hackers, the agency targets the company entities whose weak identification verification or insufficient account restoration protocols enabled the theft. This litigation mannequin asserts that each telecom suppliers and cryptocurrency platforms could be held legally accountable below client safety, negligence, and knowledge privateness legal guidelines when their systemic failures result in person asset depletion.
Authorized precedents more and more assist this institutional legal responsibility method. In a landmark March 2025 arbitration ruling, T-Cell was ordered to pay $33 million to a buyer whose high-security account was breached through a fraudulent SIM switch, leading to an enormous crypto theft. Globally, judicial our bodies are mirroring this stance; India’s Karnataka Excessive Courtroom not too long ago held a significant telecom supplier responsible for negligence following the same mobile-enabled cybercrime.
To guard claims and guarantee proof preservation instantly following an assault, KRP2 advises victims to take swift motion:
- Instant Provider Escalation: Report the fraudulent switch to the cell provider to freeze the quantity and doc port-out logs.
- Change Lockdown: Notify affected cryptocurrency exchanges to freeze remaining belongings, change credentials, and take away SMS-based 2FA.
- Knowledge Preservation: Request and safe all transaction hashes, IP login data, and communication transcripts from each telecom and crypto platforms.
By standardizing restoration protocols throughout its Miami, New York, and Los Angeles places of work, KRP2 goals to bridge the hole between complicated blockchain forensics and civil litigation, making certain that firms are held financially accountable for infrastructure-level safety gaps.
About Kaplan Rothstein Prüss Peraza (KRP2)
Kaplan Rothstein Prüss Peraza (KRP2) is a premier litigation legislation agency specializing in knowledge privateness, cybersecurity breaches, and digital asset restoration. Working out of Miami, New York Metropolis, and Los Angeles, the agency champions client rights by holding main firms accountable for systemic technical vulnerabilities.
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