A video claimed to be depicting the robbery showed an SUV colliding with closed shutters of the exchange’s storefront, followed by six men who carried the machine into another car that was nearby.
Bitcoin ATMs offer users the ability to buy cryptocurrency or with the cash value of cryptocurrencies.
for drug trafficking, money laundering, and a variety of fraud, and many operators of bitcoin ATMs are not registered with the U.S.
Coinflip, a Chicago-based crypto operator, reported that users of their ATMs must provide a name and cellphone number, while higher amounts require additional identification.
In Atlanta, Georgia, a gas station was robbed on Oct.14, 2021, and amongst the commotion, a bitcoin ATM belonging to ChainBytes had its screen shattered through a stray bullet.
The ATMs, which operate on Google’s Android operating system, include a default admin QR code, which allows anyone with this QR code to compromise an ATM.
Kraken Security Labs offers precautions to owners or operators of Bitcoin ATMs to change the admin QR code from the default, update the Crypto Application Server and follow General Bytes’ best practices, and place the ATMs in locations with surveillance security.