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Hacker spins up 1 million virtual servers to illegally mine crypto

January 15, 2024
Contributed by: Bill Russell
Ukrainian man arrested for hacking accounts, creating 1 million virtual servers to mine $2 million cryptocurrency. Europol and Ukrainian police seized equipment, cards, and illegal activity evidence. Cryptojacking scheme involved hijacking others' computing resources, leading to CPU, GPU performance degradation and increased power usage. Cloud service provider initially reported attack. Cryptocurrency mining risk mitigation includes monitoring unusual activity, implementing endpoint protection, intrusion detection systems, limiting access to critical resources, timely security updates, and enabling 2FA on administrative accounts.
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