Telecom Giant AT&T Gains First-Mover Status by Accepting Crypto

AT&T announced today that it is accepting crypto payments through Bitpay, which supports a number of major cryptocurrencies. A short press release notes that the integration is complete and users can make payments with Bitpay via the AT&T website or through the mobile app.

The news follows a recent spate of SIM-jacking incidents in which AT&T (and other) customers lost crypto as a result of customer service representatives being tricked into allowing the reassignment of SIMs belonging to people known to hold crypto. SIM-jacking is a weak point in crypto security models that use SMS-based two-factor authentication.

AT&T is one of many major U.S. companies to obtain a blockchain-based patent. Their patent is related to “mapping” social media interactions of users, potentially creating an immutable record of social media activity, for advertising purposes.

Reference: https://www.ccn.com/telecom-giant-att-accepting-bitcoin

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