The act of exploiting a computer to mine cryptocurrenciesis called "cryptojacking".
The Ukrainian National Police and Europol have announced the arrest of an individual believed to be involved in a $2 million cryptojacking operation. The operation started in 2021.
The hacker created more than ONE MILLION virtual computers to mine cryptocurrency.
“By stealing cloud resources to mine cryptocurrencies, the criminals can avoid paying the necessary servers and power, the cost of which typically outweighs the profits. The compromised account holders are left with huge cloud bills,” Europol notes.
"As part of the operation, which started in 2021, the miscreant targeted the servers of one of the largest ecommerce companies, hacking more than 1,500 user accounts in automated password brute-forcing attacks, the Ukrainian authorities announced.
The attacker then gained management access and infected the service with cryptocurrency mining malware."
"Threat actors are known to target cloud servers for cryptojacking due to the high computing power these environments provide."
"In October, Palo Alto Networks revealed that, for two years, a threat actor had been harvesting IAM credentials from public GitHub repositories within minutes of exposure, using them to set up AWS Elastic Compute (EC2) instances for illicit crypto-mining."
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