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Crypto mining campaign: Suspect arrested in Ukraine and 1.8 million euros stolen
According to a report from www.heise.de, a 29-year-old Ukrainian man was arrested last week for being behind a criminal campaign that involved mining around 1.8 million euros in cryptocurrencies. The suspect and possible accomplices created around a million virtual servers and carried out crypto mining on them. The investigation is still ongoing to find any accomplices of the suspect and to prove his or her membership in pro-Russian cyber gangs. This criminal practice has been a long-standing problem, involving the theft or fraudulent use of cloud resources to mine cryptocurrencies. Some crypto mining campaigns massively abused cloud test accounts. The affected cloud account holders are...
Crypto mining campaign: Suspect arrested in Ukraine and 1.8 million euros stolen
According to a report by www.heise.de, a 29-year-old Ukrainian man was arrested last week for being behind a criminal campaign that mined around €1.8 million in cryptocurrencies. The suspect and possible accomplices created around a million virtual servers and carried out crypto mining on them.
The investigation is still ongoing to find any accomplices of the suspect and to prove his or her membership in pro-Russian cyber gangs.
This criminal practice has been a long-standing problem, involving the theft or fraudulent use of cloud resources to mine cryptocurrencies. Some crypto mining campaigns massively abused cloud test accounts. This has left affected cloud account holders with high cloud bills.
The impact on the market and the financial industry could be significant, especially in the area of cloud services, which are increasingly being abused for crypto mining.
It remains to be seen how further investigations and action against such criminal activities will affect the financial industry.
Read the source article at www.heise.de