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T-Mobile begins paying $350 million in settlement to victims of data breach
According to Deep Tide TechFlow news on June 8, reported by The Daily Hodl, T-Mobile is beginning to distribute $350 million in settlement funds from a class action lawsuit to millions of customers affected by the massive hacker attack and data breach in 2021.
According to news from the settlement management party, the distribution of the settlement funds has begun and will continue in the coming weeks. The cyber attack in 2021 leaked personal data of approximately 76 million US customers, including sensitive information such as names, addresses, and social security numbers.
T-Mobile agreed to this settlement in July 2022 to resolve claims related to the data breach that occurred in August 2021. Eligible customers will receive digital deposits or paper checks based on their selection in the claims process, with amounts ranging from $25 to $100, and some users with documented significant losses may receive up to $25,000.
The settlement also includes providing two years of free identity protection services for affected customers. T-Mobile stated that it has strengthened its cybersecurity protocols to prevent future incidents, but it did not admit any wrongdoing in the settlement.