[2018-09-12]Malware Divulges Bitcoin ATM Vulnerabilities, Goes Up For $25,000

[Vladdirescu87]

Malware which targets Crypto ATMs is being sold on secret platforms and enables users to illegally steal up to $6,750 in Bitcoin per day.

Crypto ATMs are not as secure as they were earlier perceived to be. With the increase of Cryptocurrency adoption and acceptance, a new way of scam has surfaced in the visage of malware which targets Bitcoin ATM vulnerableness. As per Trend Micro security researchers, the illicit malware is freely sold underground worth $25,000 on the digital black market.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/malware-divulges-bitcoin-atm-vulnerabilities-goes-up-for-25-000/

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[stomachgrowls]

I do read up the article since i was confused how can possibly an ATM can be attacked and heres what i found.

•“Unlike regular ATMs, there is no single set of verification or security standards for Bitcoin ATMs. For example, instead of requiring an ATM, credit, or debit card for transactions, a Bitcoin ATM involves the use of mobile numbers and ID cards for user identity verification,”

•.“The user then has to input a wallet address or scan its QR code. The wallets used to store digital currencies are not standardized either and are often downloaded from app stores, posing another security problem.”

This explanation came from on the link and further understand on how its being done. Too risky to download and giving our app permissions which you can download freely from app stores.Now we know the certain risk.