Subj : This hacker used over a million virtual servers to create an incr
To   : All
From : TechnologyDaily
Date : Mon Jan 15 2024 13:00:05

This hacker used over a million virtual servers to create an incredibly 
powerful network - but then wasted it on mining crypto

Date:
Mon, 15 Jan 2024 12:46:12 +0000

Description:
He's made around $2 million that way, the police claim.

FULL STORY
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Ukrainian police have arrested a hacker who allegedly used compromised 
servers belonging to an American company to secretly mine cryptocurrencies . 

The Ukrainian cyberpolice revealed the individual was able to create a 
million virtual servers on which he proceeded to install cryptojackers - 
cryptocurrency miners that try to operate in the background and without the 
knowledge or consent of the endpoints owners. 

The individual, an unnamed 29-year-old man, had been allegedly active since 
2021. He first brute-forced his way into 1,500 accounts of a subsidiary of 
one of the worlds largest ecommerce companies - although the name of the 
affected company was not disclosed. Causing damage 

After brute-forcing his way into the devices, the criminal created a million 
virtual computers and installed the cryptocurrency miners. Everything he 
managed to mine, he moved using the TON wallet. The police claim the volume 
of the transactions amounted to approximately $2 million. 

The hacker was arrested on January 9, during which the police confiscated 
computer equipment, bank and SIM Cards, electronic media, and other evidence. 
He is now facing criminal charges. 

To successfully mine cryptocurrencies, a person would need a high-end 
computer and an internet connection. Mining the tokens is a compute-heavy 
operation, which makes the computer practically useless for anything else. 
Furthermore, the operation uses a lot of electricity, too, racking up the 
energy bill quickly. 

Thats why hackers often try to compromise corporate servers - theyre powerful 
devices that can mine plenty of coins, while leaving the headache of the 
electricity bill to someone else. 

Furthermore, while the servers are too occupied mining the coins, they are 
too slow to be used for their original purpose, which increases the expenses 
for the victim company even further. Those are just some of the reasons why 
some analysts claim that for every $1 of cryptocurrency mined, the victim 
suffers roughly $53 in damages. 

Hackers usually use cryptojackers to mine Monero (XMR), a privacy-oriented 
coin which, allegedly, is practically untraceable. XMRig is one of the most 
popular cryptominers out there. 

 Via: BleepingComputer More from TechRadar Pro Someone turned an Nvidia 
crypto mining GPU into a gaming one  and the resulting nightmare is a warning 
to us all Here's a list of the best firewalls around today These are the best 
endpoint security tools right now



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Link to news story:
https://www.techradar.com/pro/security/this-hacker-used-over-a-million-virtual
-servers-to-create-an-incredibly-powerful-network-but-then-wasted-it-on-mining
-crypto


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