35-Year-Old Ukrainian Charged with Crypto Mining Scheme Using Hacked Accounts

Ukrainian authorities have arrested a 35-year-old man from the Poltava region, accusing him of orchestrating a years-long cryptojacking scheme targeting an international hosting company.

According to a 4 June statement from Ukraine’s National Cyber Police, the suspect had been actively exploiting security vulnerabilities in global firms since at least 2018.

The police noted:

“In particular, the defendant illegally gained access to over 5,000 customer accounts of an international hosting company that provides server rental services for the operation of various websites and online platforms.”

Once inside the compromised systems, he allegedly deployed unauthorised virtual machines and installed cryptocurrency mining software, effectively hijacking company servers to mine digital assets without consent—a method known as cryptojacking.

Investigators estimate the illicit operation caused more than 185 million Ukrainian hryvnias (approximately $4.4 million) in damages.

In an apparent effort to evade law enforcement, the suspect reportedly relocated frequently across several regions, including Poltava, Odesa, Zaporizhia, and Dnipropetrovsk.

Authorities Discover Crypto Wallets and Illicit Software During Raid

During a search of the suspect’s residence, Ukrainian cyber police uncovered a trove of digital and physical evidence linking him to the cryptojacking operation.

Authorities reported seizing computer equipment, mobile phones, bank cards, and materials indicating active participation in hacker forums.

Among the confiscated items were email account credentials allegedly used for unauthorised access, multiple cryptocurrency wallets, and specialised software for deploying and managing crypto mining operations.

Police also found remote access tools designed to collect data and control compromised equipment.

The suspect now faces charges of unauthorised interference with electronic communication networks.

If convicted, he could face up to 15 years in prison, along with a three-year prohibition on holding certain IT or communications-related positions, or engaging in any activity involving access to electronic networks.

A pre-trial investigation remains underway, and Ukrainian authorities have indicated that additional charges may be forthcoming.