A man from Ukraine has been arrested for using a hosting company’s servers to mine cryptocurrency without permission, according to a June 4 statement by the country’s police officers.
Authorities reported the 35-year-old, who lives in the Poltava region, had been looking for weak spots in the digital systems of various companies since at least 2018.
Police claimed he gained access to over 5,000 user accounts at one international hosting service that rents out servers for websites and online tools.
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After gaining access to the accounts, he allegedly set up virtual machines and installed mining software to generate cryptocurrency, using the company’s resources without paying for them.
This type of activity, also known as cryptojacking, reportedly resulted in over $4.4 million in losses for the hosting company.
When police searched the suspect’s home, they found laptops, phones, banking cards, and other equipment. Investigators said the devices contained information linked to illegal activity, including email account details, cryptocurrency wallets, and programs used to remotely manage and control mining operations.
The suspect had reportedly been moving between different locations in the Poltava, Odesa, Zaporizhia, and Dnipropetrovsk regions to evade capture.
The man has been charged with unlawfully interfering with electronic communications networks. If found guilty, he could face up to 15 years in prison.
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