T-Mobile begins distributing $350 million settlement to customers affected by data breach

According to Mars Finance, T-Mobile, a U.S. company under Deutsche Telekom, has begun distributing $350 million in class-action settlement funds to millions of customers affected by the massive 2021 cyber attack and data breach. The distribution of settlement funds has started and will continue over the next few weeks. The 2021 cyber attack exposed personal data of approximately 76 million U.S. customers, including names, addresses, social security numbers, and other sensitive information. T-Mobile agreed to the settlement in July 2022, and eligible customers will receive digital deposits or paper checks ranging from $25 to $100 based on their claims, with some users who have documented significant losses potentially receiving up to $25,000. The settlement also includes two years of free identity protection services for affected customers. T-Mobile stated that it has strengthened cybersecurity protocols to prevent future incidents but did not admit any wrongdoing in the settlement. Previously, T-Mobile was ordered to pay $33 million in a lawsuit in March related to SIM card attacks that resulted in cryptocurrency theft.