Security News > 2024 > January > Hacker spins up 1 million virtual servers to illegally mine crypto
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.
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.
A 2022 report from Sysdig estimated the damage from cryptojacking to be about $53 for every $1 worth of Monero the cybercriminals mine on hijacked devices.
The threat actor then used these accounts to gain access to administrative privileges, which were used to create more than one million virtual computers for use in the cryptomining scheme.
Mandiant's X account hacked by crypto Drainer-as-a-Service gang.
Netgear, Hyundai latest X accounts hacked to push crypto drainers.
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