Compsmag is supported by its audience. When you buy through links on our website, we may earn an affiliate commission fee. Learn more

Two SIM swappers arrested for CMCT hack

Oklahoma City police arrested two men suspected of hacking last week and stole a $ 14 million worth of cryptographic violations from the cryptocurrency startup's Crowd Machine.

by KFOR, The two men are Fletcher Robert Childers (23) and Joseph Harris (21, Missouri).

Childers and Harris are accused of temporarily resuming the telephone number of another person (employee of Crowd Machine in this case) using a technique called exchange of SIM card.

They used this temporary access to steal tens of millions of Crowd Machine (CMCT) computing chips from California based startups.

According to a member of the cryptocurrency community, the hacker forwarded the stolen CMCT to the exchange where it converted the funds to other digital currencies.

As the millions of CMCTs came on the market sharply, CMCT prices dropped almost 80% on September 23, the day of copyright infringement.

Evolution of CMCT price before and after copyright infringement

The cloud machine accepted illegal copies on September 24 of the following day and the trading chip stopped due to some cryptographic infringement exchanges. The next day, the authorities revealed that he was arrested. Pirate's identity was announced on Friday after the KFOR report.

Childers and Harris are the fourth and fifth suspects arrested in the United States for the exchange of SIM cards. This technology has been very popular with hackers in the past year.

Hackers use this to hijack phone numbers and bypass SMS based two-factor authentication against valuable social media accounts or cryptographic violations. After accessing these accounts, they steal funds for cryptographic violations or sell social media accounts on secret forums.

The first arrest of SIM card swap attacks occurred in July of this year. The suspect accused Boston's 20-year-old man Joel Ortiz that he had exchanged at least 40 people and accused it of stealing more than $ 5 million in violation of cryptography.

A second man was arrested a few days after Ortiz. Ricky Joseph Hanshacher, a 25-year-old man from Port Richey, Florida. Investigators believe that Handschumacher is part of a nine team involved in a similar attack on the exchange of SIM cards. He has been accused of using SIM card swaps on multiple businessmen's online accounts, including CEO of Gemini Cryptocurrency Exchange.

The third man arrested is a 19-year-old man Xzavyer Clemente Narvaez …

I hope you like the news Two SIM swappers arrested for CMCT hack. Stay Tuned For More Updates 🙂