Ukrainian police have arrested a man accused of breaching the accounts of an international hosting company and using its servers to mine cryptocurrency, in a typical case of crypto hijacking.
The Cyber Police Department of Ukraine announced on June 4 that a 35-year-old man from the Poltava region has been probing various international companies for cybersecurity vulnerabilities and illegally gaining access to their servers since 2018.
"Specifically, the suspect illegally obtained access to over 5,000 customer accounts of an international hosting company that provides server rental services for operating various websites and online platforms," the police stated in their announcement.
After gaining access to the accounts, the man allegedly deployed virtual machines and cryptocurrency mining programs on the company's servers without authorization, a practice commonly referred to in the industry as crypto hijacking.
Ukrainian police reported that the man's unauthorized resource theft resulted in estimated losses of over 185 million Ukrainian Hryvnias (4.4 million USD) for the company.
The investigation also revealed that the man frequently changed residences in regions such as Poltava, Odessa, Zaporizhia, and Dnipro to evade detection.
During a search of the suspect's residence, police stated they seized computer equipment, mobile phones, bank cards, and other physical evidence indicating his activity on multiple hacker forums.
The seized devices reportedly also contained email account authorization data for hacking attacks, cryptocurrency wallets, specialized software for configuring, launching, and managing cryptocurrency mining operations, as well as other tools for information gathering and remote device control.
The suspect currently faces criminal charges for unauthorized interference with the operation of electronic information communication networks.
According to relevant laws, if convicted, the man could face up to 15 years in prison and be prohibited from holding certain positions in the IT and communications fields, or engaging in activities that may involve contact with communication systems or networks, with the ban lasting up to three years.
According to the National Police of Ukraine, the pre-trial investigation is still ongoing, and more charges may be brought against the suspect in the future.
In a similar case, last April, an American man was charged with telecom fraud and money laundering for deceiving two cloud computing providers into running a large-scale illegal crypto hijacking operation that mined cryptocurrency worth $970,000.
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Original: “Ukraine Arrests Man Accused of Breaching Server Hosting Accounts to Mine Crypto”
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