Kyiv cyberpolice unit revealed a criminal scheme applied by a local man, 23, who had been hacking profiles on social networks through phishing, effectively blocking them and then demanding ransom from account owners for restoring access.

Besides personal pages, he also focused on the profiles of online stores on Instagram, the press service of the National Police reports.

"Using fake pages and emails of 'Instagram administration,' the perpetrator would gain access to targeted profiles, and then demanded from the victims via emails a UAH 10,000 ransom to unlock the page," the report says.

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Read alsoSBU blocks spread of mobile device malwareDuring a warranted search in the hacker's apartment, cyberpolice operatives discovered computer equipment and mobile phones with different sim cards that the attacker used to register fake domain names.

Also, a notebook was found with records of criminal transactions.

Pre-trial investigation continues into fraud and malware distribution. Recent victims of the scammer are being identified for them to press charges.