January 13, 2024 at 05:24AM
A 29-year-old Ukrainian national was arrested for a “sophisticated cryptojacking scheme,” making over $2 million in illicit profits. The arrest was made in Mykolaiv with help from Europol and a cloud service provider. The suspect used compromised cloud user accounts to mine cryptocurrencies, avoiding infrastructure costs. Properties were searched for evidence.
Key points from the meeting notes on “Cryptojacking / Cloud Security” include:
– An arrested Ukrainian national ran a sophisticated cryptojacking scheme, earning over $2 million in illicit profits.
– The arrest was made in Mykolaiv, Ukraine, on January 9, with the support of Europol and a cloud service provider.
– The scheme was uncovered after a cloud provider shared compromised account information with Europol, leading to collaborative efforts with Ukrainian authorities.
– Cryptojacking involves unauthorized use of computing resources to mine cryptocurrencies, often infiltrating cloud infrastructure through compromised credentials or exploiting free trials.
– Threat actors have used techniques such as hijacking existing subscriptions and stealing AWS credentials to conduct cryptojacking attacks.
This information highlights the significance of collaboration between law enforcement and industry players in combating cybercrime, and the importance of securing cloud-based resources to prevent unauthorized cryptocurrency mining.