When you suspend an account in cPanel, the users password, in “/home/ACCOUNT/etc/DOMAIN.com/shadow”, gets two exclamation marks prepended to the password hash. This means that the hash of a password from a user trying to login will not match what is in the shadow file effectively blocking the login.

However, there is an option that allows an admin to sign into all email accounts for a domain. The option is in WHM and called “Mail authentication via domain owner password”. It is under “Tweak Settings -> Mail”.

If this option is enabled, then the admin, or an attacker that has compromised the admin password, can continue to login and send mail as a user.
A lot of email spam attacks appear to be automated. So if the admin password was weak and some hacker is using it to send spam, there is a good chance they don’t know it is the admin password. They just want to send out emails. Update the admin password, check and make sure the system is secure and monitor.