T-Mobile is paying $350 million to settle after a data breach exposed information from millions of current, past, and prospective customers. This would be the second largest data-breach settlement in U.S history after Equifax’s $700 million settlement this year.
The company says it was “pleased to have resolved this consumer class action filing.”
Today, T-Mobile said its main goal is to protect its customers and that they are not immune to malicious attacks. Customers are their number one priority and they want to ensure that they are always prioritizing the safety of our information.
T-Mobile will issue refunds of up to $1,500 for its customers and invest $150 million to improve its data security.
The T-Mobile settlement payout offers a maximum amount of $100 to those that were victimized in 2017 by the company’s data breach. Included in this settlement, anyone that was victimized is eligible for a payout upon completing the required claim form.
Lucrative settlements exist for those who qualify, ranging from Facebook’s $90 million payout to the $45 million that the Weedkiller company is offering.
Find out if you’re eligible for any money from the T-Mobile data-breach settlement
In 2021, T-Mobile has been hacked and lost a million customers’ information
It is unclear how many people have been affected by the hack, but an estimated 76.6 million people had their data compromised.
An individual found data of about 100 million people on the dark web, and they acquired this information by getting hacked into T-Mobile company servers.
John Binns, a 21-year-old living in Turkey, took responsibility for the cyberattack. This was not the first attack to hit T-Mobile in this year’s 5.
The Wall Street Journal article describes the time when a hacker gained access to CBSE systems and stole documents pertaining to “high-profile figures in entertainment, business and politics,” mentioning that one of these high-profile figures alerted the company to it.
A new settlement for T-Mobile in July merged 44 different class action suits because of the allegations that its cybersecurity protocols are sluggish and failed to protect personal information.
If you do not qualify for the T-Mobile settlement but are still owed money, you may be eligible to receive payments under the Right of First Refusal Program.
They have not released the full details of their payment plan. If a person was a T-Mo customer in August 2021, they would be notified by mail that they are eligible for it.
Get your eligibility assessed for a free $350 payout from T-Mobile’s data breach settlement
TechCrunch reported that many individuals are still unsure if they will receive compensation from the settlement.
Am I eligible to receive money from this T-Mobile settlement?
$100 dollars for California residents
Even taking into account the fees of the person who is responsible for managing this fund and distributing it, there’s up to $350 million.
If people are hurt because of you, they will be compensated up to $25,000.
T-Mobile is also giving two free years of McAfee’s ID Theft Protection Service to anyone who believes they may have been a victim of identity theft.
T-Mobile Settlement: When will I be paid for the data breach?
What Qualified T-Mobile customers will get for their $350 Million settlement
The court requested T-Mobile provide a list of class members, their contact information and any available data.
After the initial notification, eligible parties can submit claims and legal fees will be deducted from their share.
T-Mobile has been given preliminary approval for $350 million payout, but it still needs the final sign off from a judge, which will come by December at the latest.
What is T-Mobile doing to protect against future security breaches?
In order to combat hackers, T-mobile is doubling down on their strategies by collaborating with industry experts on new protocols and ensuring that the cybersecurity office reports directly to the company’s CEO.
In April 2022, security journalist Brian Krebs found that T-Mobile was a victim of the Lapsus hacking group.
New hackers attempted to look up T-Mobiles accounts associated with the Department of Defense and FBI but were stopped by tougher authentication systems.