Two men arrested in $14 million SIM swapping cryptocurrency theft

Two Missouri men were arrested Monday on suspicion of committing a SIM swap attack which allowed them to steal $14 million in cryptocurrency from a California firm.

In a SIM swap attack, threat actors transfer the victim’s phone account to their own device in order to gain access to sensitive information accessible by the account.

Fletcher Robert Childers, 23, and Joseph Harris, 21, were arrested in Oklahoma City on suspicion of gaining unauthorized access to a cryptowallet owned by San Jose-based firm Crowd Machine to steal $14 million worth of the firm’s Crowd Machine Compute Tokens (CMCTs), according to Oklahoma News 4 .

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