Ukrainian Cyber Police Arrest Malicious App Developer - Bitsonline

Ukrainian Cyber Police Arrest Malicious App Developer

The official site of the Ukrainian Ministry of Internal Affairs has published a report saying Ukrainian cyber police have searched the apartment of an unnamed hacker in the city of Kropyvnytskiy. The hacker created an app allowing anyone to gain access to user accounts of a number of unnamed cryptocurrency exchanges and casinos.

Also read: What Caused the Crypto Sell-off? Analysts Look to the Usual Suspects

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The Hacker Used To Sell Malware Via Tor

The suspect is 23 years old, and is thought to be both the creator and distributor of the harmful code. His activities have been documented by the Kiev Department of the National Cyber-Police, but remain under wraps.

The man not only used the app by himself, but also sold it via closed darknet forums, allowing countless others to attempt brute force attacks on crypto-related trading platforms and bitcoin casinos.

After identifying the suspect, officers proceeded with an authorized raid of the man’s house. A number of personal electronic devices were confiscated, including a mobile phone, flash drives, and a computer.

Ukrainian Cyber Police Arrests Bitcoin Stealing Hacker

Ukrainian Cyber Police Playing Catch-up

The investigation is taking place in accordance with Paragraph 2, Article 361 of the Ukrainian Criminal Code: ”Unauthorized Interference in the work of electronic computational devices (computers), systems, and computer networks”. Binance — while not named as a target in this case — has previously taken matters into their own hands by offering a $10 million USD bounty for information leading to the arrest of hackers.

The authorities face the daunting task of determining how many people may have fallen victim to the app. The hacker faces six years in prison and three further years of restricted access to trading activities and certain other forms of use of electronic devices.

Trend Micro researchers have noticed another thread on the underground web, in which a hacker is offering software that helps people steal bitcoin from one of the 3,500 Bitcoin ATMs worldwide (74 percent of which are in North America). The software could enable hackers to withdraw up to $6750 from one machine.

Bitcoin ATMs are where users access their online wallets and withdraw funds, and are connected to centralized services. The darknet malware buyers can steal coins by connecting instantly and remotely to a chosen ATM. The unknown master thief is selling his software for $25,000, adding a multi-language manual and Jabber support.

Is the world facing a new era of online security threats? Let us know your thoughts in the comments section below.


Images by Jeff Fawkes, UCP

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