Ukrainian police arrest suspects in crypto hijacking, causing $4.4 million in losses

ChainCatcher news, according to Cointelegraph, Ukrainian police recently arrested a 35-year-old man, accusing him of carrying out a large-scale cryptocurrency hijacking operation.

According to a police statement, the man had been hacking into over 5,000 client accounts of an international hosting company since 2018, unauthorizedly using their server resources for cryptocurrency mining, resulting in losses of approximately $4.4 million for the company. During a search of the suspect's residence, multiple computer devices, mobile phones, bank cards, as well as cryptocurrency wallets and hacking software were discovered. The suspect currently faces charges of unauthorized interference with electronic information network operations, which could result in a maximum sentence of 15 years in prison. The investigation into the case is still ongoing.