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Michael Terpin Urges FCC to Curb Crypto Fraud That Cost Him $24 Million

Michael Terpin Urges FCC to Curb Crypto Fraud That Cost Him $24 Million – CoinDesk

Crypto investor Michael Terpin has written an open letter to Federal Communications Commission (FCC) chairman Ajit Pai requesting urgent action on SIM swapping fraud. Terpin, a victim of SIM swapping himself, asked the regulator to make mobile carriers hide customer passwords from employees and to provide a “no port” option, whereby customers would have to go through a company’s fraud department before transferring their SIM information to a new phone.