Ukrainian Man Hijacked 5K Hosting Accounts to Mine Crypto

Cryptos: 21,330
Exchanges: 1,863
Market Cap: $3.31T 0.50%
24h Vol: $204,915,888,809 11.46%
Dominance: BTC: 63.6% ETH: 9.5%
Gas: 0 GWEI

Connect

Crypto News Exploits

$4.4 Million Cryptojacking Bust: Ukrainian Man Hijacked 5,000 Hosting Accounts

Written by Aaron S.,

Editor-In-Chief

Last Updated: June 05, 2025

Key Takeaways

A 35-year-old Ukrainian man was arrested for using stolen hosting accounts to mine crypto;
Police said he hacked over 5,000 accounts, which caused $4.4 million in losses through cryptojacking;
Devices found at his home showed evidence of remote mining tools and stolen account details.

Ace quick missions & earn crypto rewards while gaining real-world Web3 skills. Participate Now ! 🔥

$4.4 Million Cryptojacking Bust: Ukrainian Man Hijacked 5,000 Hosting Accounts

BITDEGREE IN YOUR SOCIAL FEED

A man from Ukraine has been arrested for using a hosting company’s servers to mine cryptocurrency without permission, according to a June 4 statement by the country’s police officers.

Authorities reported the 35-year-old, who lives in the Poltava region, had been looking for weak spots in the digital systems of various companies since at least 2018.

Police claimed he gained access to over 5,000 user accounts at one international hosting service that rents out servers for websites and online tools.

What is a Crypto Wallet? (Explained With Animation)

Did you know?

Want to get smarter & wealthier with crypto?

Subscribe - We publish new crypto explainer videos every week!

After gaining access to the accounts, he allegedly set up virtual machines and installed mining software to generate cryptocurrency, using the company’s resources without paying for them.

This type of activity, also known as cryptojacking, reportedly resulted in over $4.4 million in losses for the hosting company.

When police searched the suspect’s home, they found laptops, phones, banking cards, and other equipment. Investigators said the devices contained information linked to illegal activity, including email account details, cryptocurrency wallets, and programs used to remotely manage and control mining operations.

The suspect had reportedly been moving between different locations in the Poltava, Odesa, Zaporizhia, and Dnipropetrovsk regions to evade capture.

The man has been charged with unlawfully interfering with electronic communications networks. If found guilty, he could face up to 15 years in prison.

On May 21, Jacob Irwin-Cline, a US tourist, lost $123,000 in XRP XRP $2.17 and BTC BTC $106,061.92 after getting into a fake Uber. How did it happen? Read the full story.