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Russian Authorities Charge Two Anonymous Crypto Scammers

Russian Authorities Charge Two Anonymous Crypto Scammers

Since the popularity of cryptocurrencies is hurdling in the financial market, the rate of crimes, frauds and illegal activities regarding digital assets have also skyrocketed at an equally fast pace. Recently, two Russian citizens were charged by the regulatory authorities for attempting to sabotage the computer systems of state organizations, aimed to mine cryptocurrencies in a fraudulent manner (Cryptojacking).

As per a report, the two anonymous criminals executed their malign plan by infecting the hardware of the system with a malicious program that uses a web browser to mine cryptocurrencies. One of the suspects designed the botnet to hack the computers around different regions of the country, while the other suspect channelized his operations to mine crypto using the hardware at the state water utility JSC Rostovvodokanal.

“Up to 80% of the computer’s free power can be used to generate virtual coins, and a legitimate user may not even know about it.” – Nikolay Murashov, the Deputy Director of Russia’s National Coordination Center for Computer Incidents.

Nikolay Murashov also advised organizations to maintain the highest standards of cybersecurity to avoid such interferences by fraudsters who aim to crumble the operational capacities of the businesses.

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This is not for the first time that Russia has been subjected to a cyber breach incident. Following the issue, the country is gearing up to bring legislation that would render the authorities to seize digital asset holdings during judicial proceedings. The initiative will help the authorities to eradicate hacking risks and fraudulent activities in the country.

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