Massive T-Mobile Data Breach To Result in $350 Million Settlement

Massive T-Mobile Data Breach To Result in $350 Million Settlement

Massive T-Mobile Data Breach , To Result in $350 Million Settlement.

CNN reports T-Mobile will pay $350 million to settle a class action lawsuit, stemming from a massive data breach in 2021.

The data breach reportedly affected tens of millions of customers.

On July 22, T-Mobile agreed to allocate an extra $150 million towards cybersecurity through the end of 2023.

Over 76 million U.S. customers affected by the breach will be part of the proposed class action lawsuit.

The company says they believe a hacker stole the information of nearly 53 million current, former or prospective customers.

Customers are first in everything we do and protecting their information is a top priority.

, Statement from T-Mobile, via CNN.

Like every company, we are not immune to these criminal attacks.

, Statement from T-Mobile, via CNN.

Our efforts to guard against them continue and over the past year we have doubled down on our extensive cybersecurity program.

, Statement from T-Mobile, via CNN.

T-Mobile has reportedly created a "cybersecurity transformation office," and hired outside consulting firms "to design strategies and execute plans.".

Experts say the settlement should be approved by December 2022