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    <p>A 29-year-old alleged cryptojacking “mastermind” was arrested by Ukraine and Europol last week and accused of mining $2 million worth of crypto using stolen computational power.</p>
    <p>According to a press release from Europol, the suspect was arrested on January 9 in Mykolaiv after an unnamed cloud provider tipped off authorities after its user accounts had been compromised.</p>
    <p>The provider, Europol, and Ukrainian authorities then worked together to investigate the scheme.&nbsp;&nbsp;</p>
    <p>According to The Register, <strong>three properties were raided</strong> during the investigation and the alleged miner is currently being held in Ukraine under judicial secrecy. The cloud provider also remains unnamed.</p>
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       Stealthy crypto miners loot altcoins with GitHub trial accounts
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    <p><em>Read more: Illegal <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> mining rigs found in Poland’s Supreme Administrative Court</em></p>
    <p>Cryptojacking is essentially the unauthorized access of computing infrastructure by malicious actors who want to redirect computational power to <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> <a rel="noopener noreferrer nofollow" title="miner" href="https://thebittimes.com/tag/miner.html">miner</a>s. Through this process, <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>jackers can avoid paying costly bills and <strong>pass them on to the targeted cloud providers</strong>.&nbsp;</p>
    <p>Indeed, according to a 2022 threat report from Sysdig, cited by The Register, <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>jackers reportedly make $1 in profit for every $53 in victim-paid bills. Using this estimate, the 29-year-old in question could potentially have cost providers $106 <a rel="noopener noreferrer nofollow" title="million" href="https://thebittimes.com/tag/million.html">million</a> in bills.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/europol-says-alleged-crypto-miner-made-millions-from-stolen-electricity-tbt76627.html">https://thebittimes.com/europol-says-alleged-crypto-miner-made-millions-from-stolen-electricity-tbt76627.html</a></p>

Europol says alleged crypto miner made millions from stolen electricity

TheBitTimes

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