2 men arrested for hacking California company, stealing $14M in crypto

29 Sep, 2018
by David Borman
2 men arrested for hacking California company, stealing $14M in crypto

According to Oklahoma's News 4, 2 men have been arrested for allegedly hacking California based crypto company Crowd Machine. Apparently, the individuals made off with $14 million in Crowd Machine Compute Tokens (CMCTs).

Crowd Machine announced earlier this week that its wallet had been compromised. It later turned out that these hackers had released upwards of a billion tokens onto exchanges, which significantly lowered the price. At the time of this writing, the price of CMCT is at $0.003 USD. Currently most exchanges have ceased trading the coin until further notice.

The suspects are Fletcher Robert Childers, 23, and Joseph Harris, 21, and both were apprehended in a hotel room in Oklahoma City.

Apparently, a phone used in the hack was traced back to Oklahoma City’s west side, which led to a "no knock" arrest warrant on a hotel room believed to be occupied by the suspects. The two have been charged with grand theft, identity theft and computer intrusion.

Currently, Harris is being held without bond, but Childers is no longer in custody.

This is another example of how dangerous the crypto world can be. Hopefully the criminals are brought to justice and we can close this chapter on one more crypto crime.

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