32-year Old Ukranian Arrested For Cryptojacking

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32-year Old Ukranian Arrested For Cryptojacking

The Ukranian Cyber Police have arrested a 32-year-old unnamed person who had run infected crypto mining scripts on his websites. On 26th March 2019, Ukranian local law enforcement reported that he had allegedly installed and ran the mining malware called 'Wanna cry'.  He has been using his own sites to loot the cryptocurrency revenue in an illegal way. Though the crypto markets are going through a rough patch, there are some branches of it where there is always a scope for making money. 

The cyber crime department of Ukraine National Police has reported that they have caught the man from the Bukovina region running crypto jacking software on dozens of his own educational websites. They have reported that he himself had developed and managed these websites raking illegal revenue from cryptocurrencies.

It is reported that the Ukranian has got an array of websites that enjoy massive traffic of 1.5 million visitors. He had installed a malware crypto mining software on these websites to take advantage of his visitors' device power for mining cryptocurrency. 

However, the report didn't disclose the total money he had made using these procedures. The police stressed that they have collected solid evidence in the form of notes, bank cards, hard drives,  and computers from the suspect's apartment. Though it is not clear how much money he has made, they have declared that he is going to face a 6-year jail term. 

Cryptojacking activities are more prevalent than ever before. The recent reports from McAfee Labs pointed out an exponential rise of crypto jacking in 2018. According to their reports, over cryptojacking ransomware and malware activities has grown by over 4000 per cent last year. You can now read about this on BTC Code, so get free demo for the same on more informational content.

Cryptojacking involved hacking the computers to mine cryptocurrencies illegally by installing and running programs. These activities have been prevalent and caught everywhere right from Google Chrome extensions to U.S court System to Tesla's cloud computing infrastructure.

 

Ukraine has seen a number of ransomware campaigns in the recent past. This recent news has confirmed that the crypto jacking activities in the country are not in the control yet. The Ukraine Cyber Police seems to strongly support the legalization of cryptocurrencies. Ukraine politicians are always vocal about cryptocurrencies unlike high-profile leaders in other countries. The running president of Ukraine, Yulia Tymoshenko had expressed hopes to combat corruption and bribery in government using the blockchain technology. Even the former prime minister has opined that the blockchain is revolutionary as it can eradicate corruption and improves transparency. 

The police did not provide any detail on how many systems the man has successfully infected. They didn't reveal his total earning from these crypto jacking activities and how long the hacker has been doing them. 

In a recent report from AT&T Cybersecurity, they have mentioned that crypto mining is the topmost target of the hackers as they consistently attack the cloud infrastructures of large businesses. Coinhive, the infamous crypto miners firm had shut down their services earlier this month and reported economic inefficiency as the reason. They have cited the radical price drop of Monero as the main reason for the shutdown.

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