Three Bitcoin thieves where nabbed in Hong Kong after robbing a Bitcoin ATM f over 200 Hong Kong dollars
Making history as the first-ever Bitcoin Robbers in the country, the three robbers all males allegedly thwarted six Bitcoin machines manipulating them to cough out Hong Kong dollar equivalent of roughly $30,000 U.S. dollars.
Reportedly, local sources claimed that the robbers withdrew the cash in 11 transactions. The culprits took advantage of certain undisclosed “loopholes” that enabled them to withdraw the cash without any official authorization superintendent of Hong Kong cybersecurity and technology crime bureau Wilson Tam claimed.
He also said that he cannot say what the loopholes are but with Bitcoin transaction requiring verification, perhaps the Bitcoin thieves bypassed the verifying process before taking the money.
Authorities also believe the suspects are part of larger criminal operation.
Authorities got the heads up about the Bitcoin thieves and the robbery by two crypto exchange firms. However, Tam did not reveal the method these Bitcoin thieves tried to use to steal the money.
The Bureau, however, gave tips on how Bitcoin ATMs could improve security of their machines as Tam claimed that it is the first time fraud linked to Bitcoin ATMs would be experienced.
Bitcoin ATM surge globally, hits 8,000
Numbers of Bitcoin ATM machines globally has continued to rise hitting 8,000 after just measuring up to 7,000 in March.
CoinATMRadar, a firm that keeps track of Bitcoin ATMs globally revealed that there are currently 8,208 ATMs in 73 countries that enable people to buy and sell BTC alongside other cryptocurrencies. The machines enable crypto holders to purchase and withdraw different coins.
Bitcoin also has gathered traction so much it is viewed as an asset which makes it a good target to be attacked.