A 32-year-old Ukrainian man has been arrested for allegedly installing crypto mining malware on websites he administers.
The news was announced by Ukrainian police in a press release. The infected websites in question receive around 1.5 million hits a month.
Employees of the department of cyberpolicies alongside investigators at the Rivne police department – under the procedural guidance of the Rivne local prosecutor’s office – exposed the Ukrainian man for spreading malicious malware.
The unnamed 32-year-old man is a resident of Bukovina. He reportedly created and administered a vast number of internet resources such as literature and scientific educational sites, developing a significant user base.
He then allegedly installed crypto mining malware into the code of the websites, which let him utilise victims’ computing power to solicit crypto mining on his behalf.
This process, also known as cryptojacking, has become a growing issue in the space.
While conducting searches of the suspect’s apartment, law enforcement officers removed the computer hardware alongside bank cards, additional information carriers, and draft records.
All evidence seized has been sent for examination.
If convicted, the suspect could face up to six years in prison.
A growing issue
At the start of the year, Coin Rivet covered a report by Kaspersky Labs – a leading cybersecurity and antivirus firm – detailing how throughout 2018, cases of cryptojacking had risen by a staggering 44%.
A separate report covered by Coin Rivet also highlighted how an estimated 4.3% of all Monero cryptocurrencies in circulation had been mined through malicious crypto mining malware.
Interested in reading more about this ever-growing trend of cybercrime? Discover more about cryptojacking and how you can protect yourself.