Crypto ATM robed.

[kkgfhj123]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

[NeuroticFish]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

1. Then bad luck for the ATM operator. The users should be just fine. It's not the user funds that would be stolen.
2. They are not risky at all. Why you use the car since it's so risky? Why you ever leave home? And they are pretty much anonymous, especially for buying crypto. The only downside for the users are the pretty big fees.

[Lizzylove1]

This is a bad signal for them. The location of the ATM wasn't secured. I don't understand why an ATM will be placed in an unsecured environment, luckily for them according to the report, they had withdrawn the cash from the ATM before the attack, another thing that make them feel much pain is that: they are new on the business and have no insurance cover.

[dothebeats]

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?

Then it will be shouldered by the operator of the ATM. No funds will be lost to the ATM users at all, though their data might somehow be at risk of being compromised though I doubt that the said scenario would be possible given the preventive measures they are taking when their machines are compromised by hackers or robbers.

2. Why ATM's when they are so risky?

ATMs per se aren't risky. Their locations on an area, together with their surrounding area is what makes it risky to use them. Have you ever learned about ATMs inside malls or heavily-guarded areas being robbed or hacked? If so, those are extremely isolated cases, compared to ATMs that are located in the middle of nowhere with little to no police visibility and low foot traffic.

[Johnzky]

This is a bad signal for them. The location of the ATM wasn't secured. I don't understand why an ATM will be placed in an unsecured environment, luckily for them according to the report, they had withdrawn the cash from the ATM before the attack, another thing that make them feel much pain is that: they are new on the business and have no insurance cover.

Yeah that same questions runs to my mind that they know ATM carries money and yet they put in none strategic place?
How did the attackers easily make that action if they had enough security for that ATM and also the users?well this will serve a lesson to learn and for sure the ATM operators now will make necessary action to prevent this from happening again

[NeuroticFish]

We buy car for luxury. And in the thread there is discussion, how you can buy anonymously sitting at home which is more luxuries then going to an ATM.

You didn't understand my analogy with the cars. The point was that there are a lot of car accidents every day. That doesn't make the cars unsafe.
In the same way one robbed ATM (or more) doesn't make them unsafe.


Now about anonymous buying. I bought Bitcoin in the past from an ATM and it went like this: I entered some data, basically how much Bitcoin I want to buy and where I want them to be sent, I've put in a number of banknotes (fiat, cash) and that was all. It was long ago so I don't know the steps clearly and in order, but it was anonymous.
On the other hand, if you buy from home, you probably use bank transfer (maybe I'm wrong!) to send the money, which means you gave up anonymity.

[denzkilim]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

1. Then bad luck for the ATM operator. The users should be just fine. It's not the user funds that would be stolen.
2. They are not risky at all. Why you use the car since it's so risky? Why you ever leave home? And they are pretty much anonymous, especially for buying crypto. The only downside for the users are the pretty big fees.

They are lucky the cash on the ATM machine is already withdrawn and the only casualty is the ATM machine its self according to their Reddit post, but it is still a terrible thing to happen for people that just wanted to make a clean business.



Anyways here is the picture they posted on Reddit, their ATM machine being jeopardized by some criminals.

I think a CCTV camera will be handy with this kind of business and the location of the ATM should be also considered and find a good place with good security, money is a hot thing to criminals and they will surely do anything to get it.

[YuginKadoya]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

1. Then bad luck for the ATM operator. The users should be just fine. It's not the user funds that would be stolen.
2. They are not risky at all. Why you use the car since it's so risky? Why you ever leave home? And they are pretty much anonymous, especially for buying crypto. The only downside for the users are the pretty big fees.

They are lucky the cash on the ATM machine is already withdrawn and the only casualty is the ATM machine its self according to their Reddit post, but it is still a terrible thing to happen for people that just wanted to make a clean business.



Anyways here is the picture they posted on Reddit, their ATM machine being jeopardized by some criminals.

I think a CCTV camera will be handy with this kind of business and the location of the ATM should be also considered and find a good place with good security, money is a hot thing to criminals and they will surely do anything to get it.

Well the place where they had put the ATM maybe isn't secure and doesn't have CCTV's in the vicinity, I suggest putting the ATM at a place where there are people that may come and look upon the ATM any moment they need to, I think the best place will be any establishments that had many people every day just like the mall, so there will be a big chance that it will not happen again Well I think this can be prevented if there are security personnel around and just like what the owner has said in the Reddit article Buy with insurance so you may feel secure when a thing like this may happen again.

[jseverson]

1. What if the robber hacks and takes off all fund from ATM?

I'm fairly sure they're not straightforward to hack. If it were, we'd have seen a mass wave of this. I don't actually know how Bitcoin ATMs work in-depth, but if I were to operate one, I would make sure that it doesn't house any sensitive steal-able data like private keys. It would simply be an interface, and whatever signing is done should be done off-site.

2. Why ATM's when they are so risky?

I don't think one incidence of theft makes it inherently risky. Regular ATMs basically have the same risk. Either way, users don't actually risk anything in this scenario because it's not their money. Operators risk it because, well, it's a way to make money.

[Beerwizzard]

They are lucky the cash on the ATM machine is already withdrawn and the only casualty is the ATM machine its self according to their Reddit post, but it is still a terrible thing to happen for people that just wanted to make a clean business.

This terrible thing happens all the time in the real world even with non-bitcoin ATMs. There is plenty of compilations in YT where different rednecks pulling out ATMs from the walls with their cars or just trying to break it with a crowbar.


I'm curious about this thing:

luckily no Bitcoins were stolen!

If owners say something like that then it sounds like there was a threat of losing their BTC. I always thought that BTC should remain safe  somewhere in the wallet with no chance for any other users to access it from ATM... or not?

[Haunebu]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

1. Then bad luck for the ATM operator. The users should be just fine. It's not the user funds that would be stolen.
2. They are not risky at all. Why you use the car since it's so risky? Why you ever leave home? And they are pretty much anonymous, especially for buying crypto. The only downside for the users are the pretty big fees.

They are lucky the cash on the ATM machine is already withdrawn and the only casualty is the ATM machine its self according to their Reddit post, but it is still a terrible thing to happen for people that just wanted to make a clean business.



Anyways here is the picture they posted on Reddit, their ATM machine being jeopardized by some criminals.

I think a CCTV camera will be handy with this kind of business and the location of the ATM should be also considered and find a good place with good security, money is a hot thing to criminals and they will surely do anything to get it.

Damn. One thing that almost anyone agrees on is that people can do anything for money sometimes no matter what. This is not the first time I am hearing about these incidents.

The way they vandalized the ATM goes to show their savagery here. Absolutely pathetic. The ATM itself in orange and black looks pretty cute too.

[buwaytress]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

1. Then bad luck for the ATM operator. The users should be just fine. It's not the user funds that would be stolen.
2. They are not risky at all. Why you use the car since it's so risky? Why you ever leave home? And they are pretty much anonymous, especially for buying crypto. The only downside for the users are the pretty big fees.

They're only anonymous up until a certain threshold. The ATM in my city lets you buy without KYC (verification of identity documents) for a pretty big limit (10k EUR according to its own info) but it's generally a few thousand in most places. Not sure about how it is in USA, I imagine it's much lower.

Also, depending on the ATM, and the city, buying from an ATM can, I believe link your coins to the provider, so there's also that slight compromise in privacy.

The fees, of course, is the most obvious pain point.

[cryptokingdom]

The picture I am seeing is looking like what can easily be carried away without stress. Security is the main thing to consider before installing ATM in any where. ATM in my country is usually install where there is security agent protecting it.

[GrayFullbuster]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

Yeah it is possible but the possibility of the crypto atm that will be hacked is only small percentage. Observe the atm's in our society, it is high secured so I think that crypto atms are not risky after all.

[Oasisman]

https://www.reddit.com/r/Bitcoin/comments/audvvi/our_atm_was_robed_the_other_week_luckily_no/

After reading this thread I have two questions in my mind:
1. What if the robber hacks and takes off all fund from ATM?
2. Why ATM's when they are so risky?

1. Then bad luck for the ATM operator. The users should be just fine. It's not the user funds that would be stolen.
2. They are not risky at all. Why you use the car since it's so risky? Why you ever leave home? And they are pretty much anonymous, especially for buying crypto. The only downside for the users are the pretty big fees.

They are lucky the cash on the ATM machine is already withdrawn and the only casualty is the ATM machine its self according to their Reddit post, but it is still a terrible thing to happen for people that just wanted to make a clean business.



Anyways here is the picture they posted on Reddit, their ATM machine being jeopardized by some criminals.

I think a CCTV camera will be handy with this kind of business and the location of the ATM should be also considered and find a good place with good security, money is a hot thing to criminals and they will surely do anything to get it.

Looking at the picture, it seems like, this machine was deployed in a place where people dont usually visit. I dont know but this kind of incident is very hard for the criminals to execute in the middle of the city. Common cases in ATM robbery is, forcing someone who just had cash withdrawal to hand over the money or being shot dead, or stab to death.
Neverthless, this doesnt hinder the continuous spread of Bitcoin ATM's around the world.

[sunsilk]

The guy who posted on reddit is right, everyone who's wanting to start a crypto ATM business should secure their ATM's by having and availing an insurance. I have known some people who shared the same advice.

Good to know that no money was stolen to them but the cost for creating a crypto ATM is quite expensive too.

2. Why ATM's when they are so risky?

This depends on the location, if it was placed to an unsecured place 24/7 it's really prone to stealing. But if you will place it to malls or something that has better security, it's not risky at all.

[pushups44]

An investment in a bitcoin ATM should be seen as risky as any other investment - most businesses fail for one reason or another. These are at risk of being vandalized or broken into to take cash and possibly bitcoin, though I imagine taking bitcoin from them would be quite a challenge.

[slackcryptoz]

Hackers try the best to get some funds for them. Now the focus has got turned towards the ATM as it is getting more popularity around the globe. How the funds would have got stolen, ATM machine was shifted, damaged and thrown away from the respective position. Now the funds were in the hands of the robbers.

[eternalgloom]

Well, at least they took all the cash out, but it still sucks that the machine was badly damaged.
I hope they at least have camera footage of the perpetrators, so there's a small chance that they'll find them.

The worst part is that they literally broke this machine for no reason :-/

[muslol67]

Thieves, unfortunately, are everywhere. Bitcoin had a hardware to rob the ATM. Fortunately, they got rid of cheap. I hope get well soon.