Pavel Vrublevsky, co-founder of ChronoPay, was recently arrested by Russian authorities for allegedly hiring a hacker to attack the company's rivals.

"Vrublevsky fled the country after the arrest of a suspect who confessed that he was hired by Vrublevsky to launch a debilitating cyber attack against Assist, a top ChronoPay competitor," writes Krebs on Security's Brian Krebs. "According to Russian news organizations, the ChronoPay executive wanted to sideline rival payment processing firms who were competing for a lucrative contract to process payments for Aeroflot, Russia’s largest airline."

"Sources close to the investigation said Vrublevsky was arrested at the Sheremetievo airport outside of Moscow as he returned from a trip to the Maldives," Krebs writes.

Go to "ChronoPay Co-Founder Arrested" to read the details.

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