Romanian Hackers Get 20 Years in Prison For Cryptojacking 400k Computers To Mine $4M In BTC & XMR

A massive cryptojacking scheme allowed a gang called the Bayrob Group to steal millions of dollars from consumers, while simultaneously using their computer’s processing power for their own crypto mining. Now, a new press release confirms that the twosome will each serve 20 years in prison on American soil for their crimes.

  • The conspirators include Bogdan Nicolescu and Radu Miclaus from the Bayrob Group.
  • A third conspirator will be sentenced in January 2020.

Bogdan Nicolescu, the leader of the Bayrob Group hacker gang from Romania, as well as his co-conspirator Radu Miclaus, have been found guilty of charges related to their cryptojacking malware.

The charges include 21 separate counts of wire fraud, money laundering, aggravated identity theft, and other crimes, according to a press release that was published on Friday. Now, as reported by CoinDesk and other news media websites, Nicolescu and Miclaus have officially been sentenced to 20 years in prison each, which will be served in US prisons.

The malware by these two hacker gang members, which also is believed to have mined Bitcoin and Monero with the victims’ processing power, infiltrated 400,000 computers. The mining software was addressed in a July 2016 indictment, using most of the processing power of the hosts without any secrecy.

The prosecutors explained, “Once a bot was instructed to mine for cryptocurrency, much of its processing speed and power would be unavailable to its legitimate owner.” According to prosecutors, the botnet allowed these three individuals to steal $4 million.

A third member of the Bayrob Group, Tiberiu Danet, pled guilty to eight charges back in November last year, though his sentencing is not scheduled until January 2020.

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Avatar
Krystle M
Krystle is an American cryptocurrency blogger that wants to see the future of crypto and blockchain technology evolve. She has been writing about cryptocurrency for about a year, with a special interest in blockchain technology and regulatory measures around the world. While away from writing and learning about the changes in the cryptocurrency industry, she likes to indulge in science fiction novels and further her experience in playing both guitar and piano.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

LEAVE A REPLY

Please enter your comment!
Please enter your name here

3,467FansLike
2,795FollowersFollow
4,230FollowersFollow

Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Compound Protocol to Roll Out Decentralized Oracles Dubbed ‘Open Price Feed'

Compound, one of the most popular defi protocol, is all set to introduce open price feeds for lending on its platform using a decentralized...

$2 Million Slippage & Surge in Ether Price on Uniswap Helps Net $40k in Profit

A Uniswap user was able to profit $40,000 thanks to $2 million of slippage and the price of Ether surging north of 15%. It all...

Irish Govt to Target Cryptocurrencies Use in Money Laundering And Terror Financing

The Irish government aims to implement stricter and more stringent laws to curb money laundering and terrorism financing in its financial system, including digital...

Interactive Brokers to Settle $38 Million in Penalties for Violating AML Procedures

Interactive Brokers LLC, a U.S based brokerage that skyrocketed between 2013 and 2018, has agreed to settle a total of $38 million with the...

Ethereum Gas Price Hasn’t Been This High Since its Launch

The price of Ether is back to making its way to $400 level as it hovers around $391 in the green with just $840...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today