BlockBeats News, June 8, T-Mobile, a U.S. company owned by Deutsche Telekom, has begun distributing a $350 million collective settlement to millions of customers affected by the 2021 large-scale hack and data breach. The distribution of the settlement funds has begun and will continue in the coming weeks. The 2021 cyberattack exposed personal data of about 76 million U.S. customers, including sensitive information such as names, addresses, and Social Security numbers.

In July 2022, T-Mobile agreed to this settlement, and eligible customers will receive a digital deposit or a paper check based on their choice during the claims process, ranging from $25 to $100, with some users who suffered documented significant losses eligible to receive up to $25,000. The settlement also includes two years of free identity protection services for affected customers. T-Mobile has stated that it has strengthened its cybersecurity protocols to prevent future incidents but did not admit any wrongdoing in the settlement.

Prior to this, due to a SIM card attack that led to cryptocurrency theft, T-Mobile was ordered to pay $33 million in a lawsuit in March of this year.