T-Mobile agreed to create a $350 million fund and spend an additional $150 million on improving its data security to settle a class-action lawsuit related to a 2021 hack that exposed the personal information of more than 76 million customers.
T-Mobile acknowledged in August 2021 a hacker accessed its records and stole personal information on more than 7.8 million existing customers, 40 million former or prospective customers, and 850,000 prepaid customers. At the time, Chief Executive Mike Sievert said the telecommunications company was “humbled” by the incident—at least its fifth (and largest) breach in the last four years. Sievert pledged to take the company’s security efforts to the next level.
