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Cybercrime in Ukraine: cryptojacking operation dismantled

International operation against illegal cryptocurrency mining

A 29-year-old man who illegally created a million virtual servers to generate cryptocurrencies, earning $2 million, has been arrested in Ukraine. Europol and local police worked together to stop him after reports of suspicious activity.

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Ukrainian authorities recently put a stop to the illicit activities of a 29-year-old individual accused of generating one million virtual servers via compromised accounts. These servers were used for the unauthorized creation of cryptocurrencies, with an estimated illicit profit of $2 million. The operation was completed thanks to information received by Europol from a cloud service provider who had noticed anomalies in its systems.

The impact of cryptojacking on computer systems

Cryptojacking, a procedure adopted in the aforementioned case, involves the use of other people's resources to generate cryptocurrencies, slowing down performance and increasing the energy costs of the target organizations. According to a 2022 report by Sysdig, the economic damage resulting from these illicit activities can reach large sums compared to the value of the cryptocurrency actually mined.

The collaboration between Europol and local authorities in capturing cybercriminals

Since analyzing data from the cloud service provider, which revealed the attack in January 2023, Europol has worked closely with the Ukrainian police. This synergy made it possible to identify and arrest the person responsible on January 9, with the seizure of electronic equipment and evidentiary material. The perpetrator had previously compromised approximately 1,500 accounts via brute force.

Preventing the risk of cryptojacking attacks

To defend against cryptojacking attacks, it is advisable to monitor unusual activity on your systems, such as unexpected spikes in resource usage, and implement intrusion detection and protection systems. Additionally, it's critical to limit administrative privileges and keep security systems up to date, as well as implementing two-factor authentication for administrative accounts.

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01/14/2024 12:15

Marco Verro

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