The mastermind behind the covert mining has been under arrest

A 29-year-old man has been arrested in Ukraine for using hacked accounts to create a million virtual servers to mine $2 million in cryptocurrencies. The suspect is also believed to be the mastermind behind a large-scale cryptojacking scheme that includes seizing cloud computing resources to mine cryptocurrencies. .

#Mining degrades the performance of the central processing unit (CPU) and graphics processing unit (GPU) of the hacked organizations.

Ukrainian police arrested the hacker on January 9, when they confiscated computer equipment, bank cards, SIM cards, electronic media and other evidence of illegal activity .

The separate report issued by the Ukrainian Cyber ​​Police states that the suspect has been active since 2021 when he used automated tools to enforce passwords for 1,500 accounts of a company affiliated with one of the largest #e-commerce entities in the world, confirming that he was using #TON cryptocurrency wallets to transfer illegal proceeds, With transactions equal to about $2 million .    

The arrested person now faces criminal charges of the Ukrainian Criminal Code, under Part 5 of Art . 361 (Unauthorized interference in the operation of information, electronic communications and electronic communication networks).

Threat actors typically target cloud services to hijack computing resources for illegal cryptocurrency mining .

Ways to defend against cryptojacking attacks include monitoring unusual activity, such as unexpected spikes in resource usage, implementing endpoint protection and intrusion detection systems, and restricting administrative privileges and access to critical resources to only those who need them .

#Crypto_hackers often exploit documented flaws in cloud platforms to achieve initial compromise. Therefore, regularly applying available security updates to all software is essential to protect systems from external threats, and two-factor authentication should be enabled on all administrative accounts in case their credentials are stolen .