Crypto ATM robed.

[karloscimot]

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understand why an ATM will be placed in an unsecured environment, luckily for them according to the report, they had withdrawn the cash from the ATM before the attack, another thing that make them feel much pain is that: they are new on the business and have no insurance cover.

ATM should have an integrated security system, namely mutual security from both the location, law enforcement and security against data breakers. this might be a procedure error that could have happened.

[Siren]

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?

Good thing that this happen and lucky that only the machine is affected and not the costumers,now the operators are more particular on putting the machinery’s in systematic locations and will keep secured for the benefits of both machines and the cryptonians.sometimes things must happen to become an eye opener so we can pevent thngs from happening again,thanks to those robbers lol

[wiik]

Feels bad , I guess its their natural instinct when they see an ATM or anything that is similar to it they think it is holding a bunch of money. Too bad the machine is damaged , is it repairable or is it busted forever ? Never seen one before , neither have an idea what it looks like / how it works.

[Danica22]

From their statement they took the money before the night of the atm was robbed. If they put their atm machine in a secured place maybe it will lessen the chance of being robbed but the case was already done. It is always risky because the atm machines are vulnerable in any attempt of theft.

[Muzika]

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?

they cant hacked it the only thing that they can do is to destroy the machine and take all the fund there,it does not mean that the ATM machine itself are hackable the issue is the vandalism and the attempt of destroying the machine to get out the fund.

[Ruffian1314]

If the ATM is hacked, then all of the funds are losses of its operator or bank so the client's funds are still safe. Only ATMs that are in rural areas who don't have enough securities are prone to hacks and theft. It is very hard to hack an ATM in a very secured place.

[sunsilk]

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.

I don't think that ATM robbery is the root cause why the market has plummet few days ago. There's nothing to do with this robbery, no crypto has been stolen and the ATM was itself affected with this robbery.

Why they are not going to put this bitcoin ATM on public? where do you want them to put this? on private places where people aren't aware of bitcoin and cryptocurrencies?

If the ATM is hacked, then all of the funds are losses of its operator or bank so the client's funds are still safe.

No funds were stolen.

[Reid]

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. It is the owner of the ATM who will have a problem with that.
2. Why live this life if it is so stressful? 

Everything is risky nowadays. Even p2p transaction will give you a hard time looking for identifications and even bank accounts just so your bitcoin could turn into fiat.
If I were you choose wisely. If you decide to buy bitcoin then be ready to not withdraw it for a long time. You must still earn the right amount for your necessity and leave the rest for buying bitcoin.

[joshv06]

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

People are Just Insane, robbery is a serious threat to the crypto ATM shops. and yes looting money is their main thought neither they have empathy or any humanity, and Ii believe nothing was stolen here else It will become a hot topic in this forum and FUD's are waiting to spread it already to make this a serious thread and fade the public with a scary note.

[BeManga]

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?

if its an bitcoin atm i think the robber will only get the cash inside that atm
it will take a lot of effort before they can get any bitcoin in that atm especially if its broken and the wallet of the atm is connected online
to bad for the owner i think the bitcoin atm itself is much expensive than whats in the wallet or what the thief get on it

[stompix]

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!

Yeah, that's one of the biggest issues with those ATMs, I am genuinely surprised no scams like this have yet been done with this trick, and I mean by the ones actually running those ATMs.
Most of the times those machines don't transfer bitcoins from the owner purse but from the 3rd party that provides the machine.

But, straight to the situation here, I found this on twitter:



Those thieves might have a tougher task with my mailbox than with this

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

There are still people that think like you around here?

[thankyoulord]

the truth is there is nothing in this world that doesnt have risk. Even the money you keep in banks have their own risk. I have witness a bank fold up in my country and every cash went missing. Crypto ATM was a good idea but that doesnt mean there wont be shortcomings. But then if it is robbed , it doesnt affect the owner of the crypto , only affects the guys incharge of the crypto ATM, thus they should ensure they is tough security to safe guard everyone's funds.

[plvbob0070]

It's not the crypto ATM that are risky. Just that, there will always be people who would choose to do bad things. ATMs will always be vulnerable for this kind of act and its not something new about ATMs being robbed. The thing that made it more risky is the location, I guess. Just glad that you've withdrawn everything but still feel bad for what happened

[cryptomaster420]

I have only one question, why would someone put a robe on the ATM?

Witty  .
But I think this thread deserves a serious approach. Can't imagine how depressing it is to have some scumbag absolutely destroy your business just for the sake of it.

[libert19]

ATM's are used worldwide, if they were 'so risky' it would have never entered mainstream. Usually, there are cctv's around atm's, I guess they will find culprit. Anyway, it was not user's fund that got stolen.

[kingpin4321]

Why is it that anything that happens in the cryptocurrency world becomes a topic like it hasn't happened before
People rob ATM be it fiat ATM or cryptocurrency ATM it's a crime and should be handled like that with out creating a topic out of it

[sammyp]

You do not need to worry about the safety of your funds. It is up to the ATM operator to ensure that your funds are safe. Even though its risky, you stand to loose nothing especially in cases where the ATMs are covered by insurance.

[LbtalkL]

~snip

After seeing the picture I can tell that this ATM is not that durable I felt sad to the operator they should not release an ATM like this or if ever there should be a security guard on standby. Outside ATM should be firmly attached to the walls or something. Anyways there is no risk to Bitcoin ATM users.

[Velkro]

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 sad story. I bet they payed like $20 000 for this machine and some brainless yahoo's destroyed their's hopes and dreams of become Bitcoin ATM Tycoon's.
I hope they recover, although they didnt bought insurance for installing $20 000 machine in public place, which is risky always.
So anyone considering this business, buy insurance.

edit: wow this damaged machine really looks bad, i bet thiefs thought that bitcoins will spur from the cracked side

[goaldigger]

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. If the robber is too good at hacking, Maybe he can get those bitcoin address in the history of the ATM but he can never get those private keys and get users account. The robbed money is never related to users fund so its from the operators account.

2. Everything is risky and its just an isolated case. Even fiat ATMs and banks are robbed. So its not that big deal to worry.