A man was arrested by the Ukrainian police for allegedly committing cryptojacking against a company, resulting in a loss of 4.4 million dollars.

Gate News bot reported that the Ukrainian police arrested a man and charged him with hacking into the account of an international custodial company and using its servers for crypto mining.

The Cyber Police of the National Police of Ukraine stated that a 35-year-old man from the Poltava region has allegedly been investigating the cybersecurity vulnerabilities of multiple international companies and gaining access to their servers since at least 2018.

The police stated: "Specifically, the defendant unlawfully obtained access to over 5,000 customer accounts of an international custody company, which provides server rental services for the operation of various websites and online platforms."

After gaining access to the account, the man allegedly deployed unauthorized virtual machines and crypto mining programs on the company's servers, which is commonly referred to as crypto hijacking. The man misappropriated resources without paying any fees, resulting in estimated losses for the company of over 185 million Ukrainian Hryvnias (4.4 million USD).

The police also accused the man of regularly changing his residence in regions such as Poltava, Odessa, Zaporizhia, and Dnipro to evade detection.

Source: Cointelegraph