A Minnesota man, Joshua Paul Armbrust, 44, has been charged in a 'cryptojacking' scheme that exploited the computer resources of his former company to mine ether (ETH), causing over $45,000 in damages, according to the U.S. Attorney's Office for the District of Minnesota.
Armbrust, who resigned from Digital River, is accused of accessing the company's Amazon Web Services (AWS) account without permission from December 2020 to May 2021, using company resources to illegally mine cryptocurrency.
The mined ETH was transferred to two Coinbase accounts under his name and then sold for over $7,000, which he transferred into his Wells Fargo account.
Cryptojacking is a cybercrime in which an individual commandeers the computing power of others to mine digital assets, often resulting in significant operational costs for the victim.
Armbrust faces a computer fraud charge and appeared in court on November 1, 2024. The FBI conducted the investigation, with Assistant U.S. Attorney Bradley M. Endicott prosecuting the case.
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