Ukrainian Authorities Arrest Suspect Behind $4.4M Cryptojacking Operation

A Ukrainian man has been arrested for allegedly orchestrating a years-long cryptojacking scheme that compromised thousands of online accounts tied to a global hosting provider, authorities revealed this week.

The suspect, a 35-year-old from the Poltava region, reportedly exploited server vulnerabilities to hijack computing resources for illicit crypto mining. Investigators say he gained unauthorized access to over 5,000 customer accounts, deploying mining software across remote servers without detection—causing estimated damages of over $4.4 million.

Ukraine’s cyber police uncovered that the operation had been running since at least 2018. The accused frequently changed locations across multiple regions to avoid arrest.

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During a raid, officers seized evidence including crypto wallets, hacking tools, mining software, and credentials tied to compromised systems. Authorities also discovered the man’s involvement in underground hacker forums.

He now faces charges related to illegal interference with information networks, carrying potential penalties of up to 15 years in prison and a professional ban from roles involving access to communication systems. Investigators say more charges may follow as the probe continues.

This case adds to a growing list of international cryptojacking incidents, including a recent U.S. indictment involving nearly $1 million in illicit mining profits obtained through cloud infrastructure abuse.

Deyan Angelov

Active crypto trader who also follows news related to stocks, the S&P 500, and gold. Deyan enjoys staying physically active, trains regularly, and practices calisthenics. He also likes reading sci-fi books when he has the time.