Authorities in Ukraine have arrested a 29-year-old individual for compromising cloud accounts with the intention of illegal cryptocurrency mining.
Europol and Cyber Police Joint Operation
At the beginning of this January, an individual in Mykolaiv, Ukraine was apprehended as part of a joint operation between Europol and an unidentified cloud service provider. This arrest resulted from a sophisticated plan known as a "sophisticated cryptojacking scheme," as stated by Europol in its press release on January 12.
 Compromised Accounts and Cryptocurrency Mining
According to Europol, the suspect is responsible for illegal #cryptocurrency mining worth more than $2 million (1.8 million euros) through compromised accounts. Ukrainian cyber police, involved in the operation, discovered that the individual used automated tools to forcefully breach the passwords of 1500 accounts belonging to an undisclosed e-commerce subsidiary.
 Abuse of Accounts for Creating Virtual Servers
The suspect was accused of misusing compromised accounts to gain administrative privileges and subsequently created more than a million virtual servers. These servers were utilized to conduct an extensive cryptocurrency mining operation. The perpetrator allegedly used #TON cryptocurrency wallets to facilitate the easy transfer of illegally obtained proceeds.
 Discovery and Cooperation with Cloud Service Provider
During the operation, searches were conducted at three properties in collaboration with Europol, confirming that the investigation was initiated based on information provided by the cloud service provider. Europol stated, "The cloud provider approached Europol in January 2023 with information about its compromised user accounts."
 Support from the European Cybercrime Centre (EC3)
The European Cybercrime Centre (EC3) established a virtual command post to assist Europol during the operation. It provided support to the Ukrainian national police in analyzing and forensically evaluating the gathered data during the searches.
 Charges and Criminal Prosecution
According to Ukrainian authorities, the detained suspect has been involved in unlawful activities since 2021 and will face criminal prosecution. Investigators from the Ukrainian National Police initiated criminal proceedings under Section 5, Article 361 of the Ukrainian Criminal Code, which pertains to unauthorized interference with information systems and electronic communication.
 Cloud-based Cryptojacking
Cryptojacking in a cloud environment involves malicious actors gaining unauthorized access to cloud computing infrastructure and using its computational power for cryptocurrency mining. This allows them to avoid costs associated with servers and electricity, maximizing their profits. Owners of compromised accounts often incur significant financial losses due to the unauthorized use of their cloud accounts.
#HackerAlert
Notice:
,,The information and views presented in this article are intended solely for educational purposes and should not be taken as investment advice in any situation. The content of these pages should not be regarded as financial, investment, or any other form of advice. We caution that investing in cryptocurrencies can be risky and may lead to financial losses.“