Two Suspects in $14m Theft of Crypto-Currencies Detained in Oklahoma

Oklahoma City Police have taken under their custody two men suspected in theft of some $14m worth of crypto-currencies from one crypto company named Crowd Machine Network that is located inside California.

Belonging to Missouri, Joseph and Fletcher were both detained for allegedly committing grand theft legally described as first-degree crime, along with ID-theft legally described as Class C misconduct. In case both are convicted, they could be jailed for a maximum of 35 years, as per state laws of Oklahoma.

Understandably as per court documents, Crowd Machine Network became victim of the hack accomplished with the aid of swapping a 'sim' card which lets Harris and Childers seize the identity and cell-phone number of the main team member of certain company. As a result, the duo managed towards hijacking the crypto-currency wallet of the person owning the 'sim' while grab CMCT tokens worth $14m.

An investigator belonging to Office of District Attorney of Santa Clara County along with State's REACT (Regional Enforcement Allied Computer Team) members got in touch with the field office of Oklahoma City Secret Service of USA to track the cell-phone involved within the hack. Afterwards the phone's location was found in one Oklahoma City hotel the place from where the U.S Secret Service carried out the remaining detentions on September 24, 2018.

Court documents reveal that two white men had bought the seized cell-phone from one Walmart store in the vicinity. Video footages showed the men as Harris and Childers. A different CCTV footage showed the car the men drove was Childers'.

Following the crypto-currency theft Crowd Machine reports having released 500m CMCTs in market, whilst kept 1.5bn in reserve. It appears that the hackers moved 1bn CMCTs onto various crypto-currency exchanges. As a result, CMCT token value dropped since many exchanges halted its trading temporarily until a probe into the incident would conclude.

Founder and CEO Craig Sproule of Crowd Machine informed the general public that those who bought the stolen tokens but didn't have any involvement in the theft could rest assured of being honored while they would be notified once trading resumed.

» SPAMfighter News - 10/5/2018