Canadian woman loses about $1.3 million in Bitcoin to SIM card fraud, sues telecom company

2025/07/07 08:26

PANews reported on July 7 that according to Bitcoin.com, Canadian woman Raelene Vandenbosch filed a lawsuit against Rogers Communications and Match Transact, accusing them of security vulnerabilities that led to her suffering a SIM card hijacking attack in 2011, and losing 12,58 bitcoins worth $392,700 at the time (now about $1.36 million). The lawsuit shows that an employee of an authorized mobile phone counter in Montreal once provided database permissions to hackers posing as operator technicians, causing her mobile phone number to be transferred. The attacker then hacked into the victim's Ledger and Shakepay encrypted wallets. The plaintiff accused the defendants of not taking adequate anti-fraud measures and that counter employees had excessive access to user sensitive information.

The BC Supreme Court's latest ruling requires the main part of this case to enter arbitration, but the claim of "public admission of fault" is allowed to continue due to public interest. Neither defendant admitted the accusation and emphasized that it should be resolved through arbitration in accordance with the user agreement.

Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Cynthia Lummis Backs Budget-Neutral Bitcoin Reserve – Using Seized Crypto, Not Purchases

Cynthia Lummis Backs Budget-Neutral Bitcoin Reserve – Using Seized Crypto, Not Purchases

Senator Cynthia Lummis (R-WY) supports U.S. Treasury Secretary Scott Bessent’s Fox News interview this week, in which he revealed that the U.S. will not be buying Bitcoin for its Strategic Bitcoin Reserve (SBR). Sen. Cynthia Lummis Applauds Budget-Neutral Bitcoin Plan Speaking with reporter Maria Bartiromo on Thursday, Bessent revealed that the U.S. will not purchase Bitcoin outright for the reserve—instead, it will use “confiscated assets” as a store of value. In two August 14 X posts, Lummis called Bessent’s take “spot on” in terms of identifying a budget-neutral plan to increase America’s Bitcoin reserve . “ @SecScottBessent is right: a budget-neutral path to building SBR is the way,” Lummis said in an August 15 X post. “We cannot save our country from $37T debt by purchasing more bitcoin, but we can revalue gold reserves to today’s prices & transfer the increase in value to build SBR.” Sec. Bessent is spot on about the importance of bitcoin as a store of value in the digital age. I look forward to continue working with @SecScottBessent & @howardlutnick to identify budget-neutral ways to continue growing our bitcoin reserve & outpacing adversaries in the race. — Senator Cynthia Lummis (@SenLummis) August 14, 2025 “I look forward to continue working with @SecScottBessent & @howardlutnick to identify budget-neutral ways to continue growing our bitcoin reserve & outpacing adversaries in the race,” she added. Confiscated Crypto at the Core of U.S. Reserve Strategy Despite hitting an all-time high above $124,000 on Thursday, Bitcoin’s value was hovering around $117,000 as of Friday. Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order. In addition, Treasury is committed to exploring budget-neutral pathways to acquire more… — Treasury Secretary Scott Bessent (@SecScottBessent) August 14, 2025 Bessent’s latest remarks are likely to disappoint Bitcoin holders who hoped the U.S. government would buy up more of the cryptocurrency . Following his interview with Fox News, Bessent took to X himself to clarify his commentary. “Bitcoin that has been finally forfeited to the federal government will be the foundation of the Strategic Bitcoin Reserve that President Trump established in his March Executive Order,” Bessent said. “In addition, Treasury is committed to exploring budget-neutral pathways to acquire more Bitcoin to expand the reserve, and to execute on the President’s promise to make the United States the ‘Bitcoin superpower of the world,’” he added.
Share
CryptoNews2025/08/16 05:43
DeFi Development Corp. Funds SOL Strategy With Convertible Notes

DeFi Development Corp. Funds SOL Strategy With Convertible Notes

DeFi Development Corp. has priced an upsized $112.5 million private offering of convertible notes to bolster its corporate treasury, including further acquisition of solana ( SOL). Company Funds SOL Strategy With Convertible Notes Worth $112.5 Million The Nasdaq-listed company (DFDV) announced the 5.5% convertible senior notes due 2030, marketed to qualified institutional buyers under Rule […]
Share
Bitcoin.com News2025/08/16 06:45