[PRESS RELEASE – Miami, FL, USA, September 22nd, 2026]
Kaplan Rothstein Prüss Peraza (KRP2), a distinguished cybersecurity and information privateness litigation agency, has introduced the growth of its specialised authorized observe centered on recovering digital property 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 service verification processes to hijack a sufferer’s telephone quantity, permitting them to bypass SMS-based two-factor authentication (2FA). Based on the FBI Web Crime Criticism 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 danger going through retail and institutional traders alike.
On account of these institutional vulnerabilities, KRP2’s expanded observe offers a direct civil litigation route for victims who’ve misplaced cryptocurrency as a result 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 might be held legally accountable below shopper safety, negligence, and information privateness legal guidelines when their systemic failures result in person asset depletion.
Authorized precedents more and more help this institutional legal responsibility strategy. In a landmark March 2025 arbitration ruling, T-Cellular was ordered to pay $33 million to a buyer whose high-security account was breached through a fraudulent SIM switch, leading to a large crypto theft. Globally, judicial our bodies are mirroring this stance; India’s Karnataka Excessive Courtroom just lately held a significant telecom supplier answerable 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 service to freeze the quantity and doc port-out logs.
- Trade Lockdown: Notify affected cryptocurrency exchanges to freeze remaining property, change credentials, and take away SMS-based 2FA.
- Knowledge Preservation: Request and safe all transaction hashes, IP login information, and communication transcripts from each telecom and crypto platforms.
By standardizing restoration protocols throughout its Miami, New York, and Los Angeles workplaces, KRP2 goals to bridge the hole between advanced blockchain forensics and civil litigation, making certain that companies are held financially accountable for infrastructure-level safety gaps.
About Kaplan Rothstein Prüss Peraza (KRP2)
Kaplan Rothstein Prüss Peraza (KRP2) is a premier litigation regulation agency specializing in information privateness, cybersecurity breaches, and digital asset restoration. Working out of Miami, New York Metropolis, and Los Angeles, the agency champions shopper rights by holding main companies accountable for systemic technical vulnerabilities.
The submit KRP2 Legislation Agency Expands Specialised SIM Swap Crypto Restoration Litigation Throughout Main US Jurisdictions appeared first on CryptoPotato.