Oklahoma Police have arrested 23-year-old Fletcher Robert Childers and 21-year-old Joseph Harris, who are suspected of stealing $14 million in coins from a little-known cryptocurrency called Crowd Machine.
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Two Missouri citizens were arrested on Monday at a west-side hotel with a court order that they reported hacking 1 billion Crowd Machine Compute Tokens (CMCT) with SIM swaps.
CMCT was at much higher transaction volumes than usual around September 22.
This brought the market value of the small project to nearly $1 million.. Along with half a billion coins in circulation, 1.5 billion coins were held by the project.
One billion of them were stolen by suspects through identity theft.. The two individuals in question managed to convince the SIM courier to give CMCT’s phone number by pretending to be the owner of the phone number used as a two-factor authenticator for the stolen coins.
Social engineering hack September 24′
How the police acted so quickly while the suspects were arrested on the day of the incident cannot be explained, but the hackers may have left their mark on SIM couriers or elsewhere.
To the price movements. judging by the fact that they are selling millions of coins it is clear. The project now hopes to develop with what’s left. In the statements made:
“We strongly recommend that no one buys CMCT until the criminal investigations are over, while we will wait for the closed exchanges to reopen.. Required action will be taken for stolen coins purchased by users who are not involved in theft.”
Trading for this coin, which is listed on some top exchanges by trading volume, is suspended as the events unfold.. It is unclear when they plan to return to normal operation.
The project itself offers a kind of Golem clone and a decentralized accounting system using rambling resources shared by individuals with little computing power. one of the first crypto projects to witness the arrest of hackers. It seems that law enforcement agencies have also started to gain expertise in the crypto field and can now take action quickly.
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