The national police arrested the man with the support of Europol. What's next for him?
A suspect in the organization of a multi-million dollar cryptojacking scheme was arrested after a large-scale investigation conducted by Europol with the support of the National Police of Ukraine.
The 29-year-old citizen of Ukraine was detained this week in the city of Nikolaev. His identity is not disclosed in the interests of the investigation.
During the operation, in addition to detentions, searches were conducted in three households of the suspect at once. The evidence collected during the raids will help the investigation to build a prosecution.
It is worth noting that the investigation was made possible thanks to the cooperation of Europol with one of the major cloud service providers. It was this provider that initially contacted the European police department, reporting the hacking of its customers ' accounts. The information was then passed on to the Ukrainian authorities.
According to investigators, the criminal for a long time illegally used the hacked infrastructure of a number of organizations for mining cryptocurrencies. Thus, he managed to get more than $ 2 million worth of cryptocurrency.
At the same time, the victim companies did not even suspect about hacking, continuing to pay for the service as if nothing had happened.
Research shows that cryptojackers make an average of $ 1 profit out of every $ 53 spent by an attacked company on cloud services. Despite the fact that the phenomenon of cryptojacking has been studied for several years, successful campaigns still bring huge sums to attackers.
For example, in 2022, the TeamTNT group received about $ 8,100 as a result of its criminal activities. At the same time, the victims had to pay bills for $ 430,000.
Strictly speaking, the definition of cryptojacking implies the illegal use of not only cloud resources, but also any other capacities suitable for mining. However, if criminals want to get the fastest possible results, they primarily target cloud services.
This arrest was made possible by effective cooperation between law enforcement agencies and the private sector in the fight against cybercrime. It demonstrates the importance of working together to identify and stop such criminal schemes.
Now the man is awaiting trial, nothing is known about his whereabouts. The investigation collects the latest data in order to take fair measures.
A suspect in the organization of a multi-million dollar cryptojacking scheme was arrested after a large-scale investigation conducted by Europol with the support of the National Police of Ukraine.
The 29-year-old citizen of Ukraine was detained this week in the city of Nikolaev. His identity is not disclosed in the interests of the investigation.
During the operation, in addition to detentions, searches were conducted in three households of the suspect at once. The evidence collected during the raids will help the investigation to build a prosecution.
It is worth noting that the investigation was made possible thanks to the cooperation of Europol with one of the major cloud service providers. It was this provider that initially contacted the European police department, reporting the hacking of its customers ' accounts. The information was then passed on to the Ukrainian authorities.
According to investigators, the criminal for a long time illegally used the hacked infrastructure of a number of organizations for mining cryptocurrencies. Thus, he managed to get more than $ 2 million worth of cryptocurrency.
At the same time, the victim companies did not even suspect about hacking, continuing to pay for the service as if nothing had happened.
Research shows that cryptojackers make an average of $ 1 profit out of every $ 53 spent by an attacked company on cloud services. Despite the fact that the phenomenon of cryptojacking has been studied for several years, successful campaigns still bring huge sums to attackers.
For example, in 2022, the TeamTNT group received about $ 8,100 as a result of its criminal activities. At the same time, the victims had to pay bills for $ 430,000.
Strictly speaking, the definition of cryptojacking implies the illegal use of not only cloud resources, but also any other capacities suitable for mining. However, if criminals want to get the fastest possible results, they primarily target cloud services.
This arrest was made possible by effective cooperation between law enforcement agencies and the private sector in the fight against cybercrime. It demonstrates the importance of working together to identify and stop such criminal schemes.
Now the man is awaiting trial, nothing is known about his whereabouts. The investigation collects the latest data in order to take fair measures.
