Crypto ATM robed.

[kentrolla]

Well!!! this happens even with the ATM machines too, thieves are everywhere in the world as they are very proactive when it comes to their business this will not impact on any investor I guess. We need to be careful and take care of our selfs. Guys who are planning for Crypto machine business need to be very careful here.

[seoincorporation]

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?

The robber don't need to be a hacker to drain all the btc ballance, if they can access to the cash box then they can use the same $100 bill to drain all the btc from the ATM.

And the ATM are a risk business, that's why banks invest millions each year in their ATM's security, but in this picture we can see how insecure was this one, you can even grab it and run with it!
Image: https://i.imgur.com/BBh89tr.jpg

[btyco]

ATM machines are often located in areas that are unsafe because it is the criminals that are using it most. Bitcoins are not easy to trace and so ATMs are perfect for simple anonymous trading

[mich]

You can buy Bitcoin ATM malware for $25,000 in the Dark Web
https://www.zdnet.com/article/you-can-buy-bitcoin-atm-malware-for-25000-in-the-dark-web/

It doesnt help that there is malware for cheap on the Dark Web.
I would think theres more then 25,000$ in these ATMS to make it worth the effort from hackers. 

[naufals4]

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?

actually the concept of a bitcoin atm is good because it makes simple money withdrawals or transfers. but all of them must have risks like the news above, there are atm bitcoin that are robed. however, besides the bitcoin atm, the fiat atm, there must also be news that the ATM is robed

[XCANA]

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?

Robbing Bitcoin ATM machine was not a new one because these ATM are more like our fiat ATM. Installation of inbuilt cameras will help in the fight against theft and hack. The Bitcoin ATM machine company should work out modalities to ensure that investors fund are kept secure and also, environment should be secure too.  

[Ahiaba]

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.

YES the picture of the ATM machine is liable to be move by robbers if there are no security gadget around the environment to protect the ATM machine. Even the users are not save equally because they can be robe during the process of carryout respective transaction. Hope the company provide the necessary security alongside when installing the machine.

[KennyR]

Atm robbery is quite common around the globe, now the scenario is different. Within the bitcoin ATMs small amount of funds will be placed as the people using the ATM service is quite low. This has become easily accessible for the robbers to take away the funds damaging the machine. Now it's time to secure the bitcoin ATMs through blockchain technology 

[kryptqnick]

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.

You are right about the cases or robbing ATMs in general, but according to the post in reddit to which the op referred, all of the funds were actually okay in this case:

We withdrew all the cash the night before so no funds were stolen.

I wonder if this robbery has anything to do with a so-called crypto ATM malware that was recently discussed on the forum: https://bitcointalk.org/index.php?topic=5113410. Although, it probably did not, since the post mentione that the ATM was destroyed (so I guess the robbers physically invaded the ATM somehow). If it's possible to just kick the machine hard enough to break it open and get the money, investments in the materials should be considered.
I don't like ATMs anyway because of their fees.

[Jonking]

this could have avoided if they put in a place that is much secure.. specially inside the malls and they have to put security alarm just incase

[Micerker]

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?

This is bad for them when thieves destroyed their ATM. I believe that using Bitcoin Bitcoin is great for people who want to own bitcoin in small amounts, but thieves are willing to destroy it to steal the money in ATM. So I believe that next time they will buy insurance for it.

[rdbase]

Well!!! this happens even with the ATM machines too, thieves are everywhere in the world as they are very proactive when it comes to their business this will not impact on any investor I guess. We need to be careful and take care of our selfs. Guys who are planning for Crypto machine business need to be very careful here.

Yes they do happen everywhere all over the world. But those machines way a ton and you usually see people hooking up trucks to try and pull them away so they can crack them open some place else other then where they were bolted down to.
These bitcoin atm machines are placed on a stand in these establishments and do not look like they weight more than 50-75 pounds and could be hauled away by a person.

[Meysa_richa]

hackers are indeed very detrimental to everyone, and I think if there is an ATM the top one will result in bankruptcy and might affect the price of bitcoin.

[serjent05]

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.

So they did't lost money aside from the machine being destroyed and their business being ended too. Sad, good that the thieves were not able to get any data from the machine so their bitcoins are safe (hopefully). Even if the CCTV will be able to trace and find the suspects since they don't have any insurance so their machine will not be restored to them unless they make a new one or repair the old one.

[creeps]

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?

Well, Crypto ATM’s are also prone to this kind of incident so the operator must secure their machine at all times.

1. Its the loss of the operator, but for sure they will place it on a more secure place just like what banks are doing, 24/7 monitoring is ideal thing to do for this one.

2. For conveniency, which is more liquid compare to other way of cashing out. Its your choice to use it or not. 

If you think the machine was not on the safest place, then better not to make any transaction on that machine, think for your safety first

[babysweetTiger0401]

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?

In the first place if I am one of the users or clients of the crypto ATM, well I guess I am not affect by it. Because only the ATM would get affect by the hackers not the users/customers. And it will only be risky if you will your password to anyone then aside from that I don't see any risk from this things.

[Gaff]

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.

Probably thats number one factor why the price was declining very fast because of that robbery. Secure location was the best and ample way to make this atm have acquired safety. Risk is somewhere to happen, that's why the most priority is keeping it safe all the time, specially when this involves a lot of money. It's always recommended to place this bitcoin atm machine not in public places without visibility of the authority, and these days more it hackers were roaming around to intrude their victims.

[Bountyhonter]

This shouldn't be a big deal, any ATM can be robbed if the operators aren't careful and off the ATM isn't in a secured location. There is hardly any ATM that doesn't have CCTV camera so if this one doesn't have one then the operators are to blame.

[peonminer]

This post made me curious about starting a bitcoin atm business and this is what I came across

https://coinatmradar.com/blog/how-to-start-a-bitcoin-atm-business/

it's really not that expensive to get an ATM for BTC going

[shesheboy]

ATM machines are often located in areas that are unsafe because it is the criminals that are using it most.

its rare to see atm's that are aware from crowded areas because atm owners do also know the risk of being robbed but if ever they are away , there were still security/police that will guard the area on where the atm is located   . there's also cctv's around them   .

Bitcoins are not easy to trace and so ATMs are perfect for simple anonymous trading

even though bitcoins are known to be anonymous  . robbers can still get traced if ever there's a witness that sees them after they robbed an atm machines .