Bill Toulas reports:
A 29-year-old man in Ukraine was arrested this week for using hacked accounts to create 1 million virtual servers used to mine $2 million in cryptocurrency.
As announced today by Europol, the suspect is believed to be the mastermind behind a large-scale cryptojacking scheme that involves hijacking cloud computing resources for crypto-mining.
By using the computing resources of others’ servers to mine cryptocurrency, the cybercriminals can profit at the expense of the compromised organizations, whose CPU and GPU performance is degraded by the mining.
Read more at Bleeping Computer.