T-Mobile to Pay $500 Million to Settle Its 2021 Data Breach

The U.S. mobile carrier T-Mobile agreed to pay $500 million to settle a class action lawsuit. The class action was filed by consumers following a cyberattack on T-Mobile’s systems last summer, which compromised the personal data of at least 76.6 million people – currently, the largest ever carrier breach on record.

According to the settlement authorized by the court, T-Mobile, which according to reports is known for having poor security, will pay $350 million directly to consumers, and invest the remaining $150 million in data security and cybersecurity technology during 2022 and 2023.