Cryptocurrency investor Michael Terpin sues AT&T over “SIM swap” scam; Cargomatic raises $35M in series B round; Boeing acquires El Segundo-based satellite and flight-plan maker.
Prominent local tech and cryptocurrency investor Michael Terpin has filed a lawsuit against AT&T Inc. alleging the company allowed a “SIM swap” scam to occur, let an “international criminal gang” bypass security controls on his cryptocurrency accounts and steal more than $23.8 million. Socaltech reports Terpin seeks $223.8 million in his filing, $200 million of which is in punitive damages. Terpin co-founded press release distribution service Marketwired Inc. in Los Angeles, which he later sold to NASDAQ Inc. in February 2016.
Cargomatic Inc., a Long Beach-based online platform that helps connect shippers and truckers for cargo delivery, closed a $35 million Series B round, the company announced Aug. 16, according to the Business Journal. New York private equity firm Warburg Pincus and Westport, Conn. firm Canaan led the funding round.
The Business Journal reports that The Boeing Co. has agreed to acquire El Segundo-based Millennium Space Systems for an undisclosed sum. Millennium Space Systems makes satellites and flight plans and was founded in 2001.
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