Bitcoin ATM are prone to fraud | Bitcointalksearch.org

maianh09

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Quote from: demenBTC on November 15, 2018, 01:21:06 AM

I have read an article from Jeffrey Gogo which explains about Bitcoin ATMs in Australia https://news.bitcoin.com/bitcoin-atms-most-common-scam-payment-method-in-australia/
do you think this will happen in every country if you have used a bitcoin ATM?

I think this can not happen because the appearance of abnormalities, service publishers will try to change it to fix the defects of the system. Do not worry that all the troubles will be solved and not worry about what will happen.

dothebeats

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It's kind of annoying that people still fall for these entry-level scamming practice, and the worst part is that bitcoin ATMs are being used as an avenue to make things work for the scammers. If someone asks you for an unpaid tax or debt and they claim that they are from the government's taxation/legal department, why would they issue you a different bank account that isn't associated in any way to the government, let alone a bitcoin ATM? The fault right here isn't on the operators of the ATMs but rather those people who are gullible enough to actually pay their tax on an obvious private account.

Marcel555

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Quote from: btyco on November 15, 2018, 02:55:04 AM

ATMs can help scammers because it is easy to use so victims can buy them more easily. Much better than setting up an account with coinbase and waiting ages for approval

I don't quite understand what you are trying to say.
Victims of what exactly?
Bitcoin ATMs are connected to an exchange and of course you credit card links it to your bank account. That's an identity that is traceable back to you.
They are not yet widespread and most developing countries are yet to get them as yet.

btyco

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ATMs can help scammers because it is easy to use so victims can buy them more easily. Much better than setting up an account with coinbase and waiting ages for approval

mk4

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Quote from: demenBTC on November 15, 2018, 02:01:36 AM

Quote from: mk4 on November 15, 2018, 01:35:26 AM

I think you've misunderstood the article(assuming you've actually read the article, and not just the headline). The bitcoin ATMs themselves aren't fraudulent. It's just that scammers demand payment through using bitcoin ATMs to the victims as a better alternative to accepting iTunes vouchers like the article said.

yes, I am not saying this is cheating on bitcoin atm, I am just saying the bitcoin atm has become a vulnerable thing to use in the Australian country that I mean, and whether later if the bitcoin atm has spread in all countries it will have the same impact, which is the target of scammers or there is more security improvement

Again, there's zero problem with the ATMs when talking about security and vulnerability. It's just a tool that scammers use to receive their payment in bitcoin. Bitcoin ATMs can be the most securest and unhackable platform in the whole world and this problem would still occur because the attack is being made on the people not the ATMs themselves.

Read the article.

demenBTC

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Quote from: mk4 on November 15, 2018, 01:35:26 AM

I think you've misunderstood the article(assuming you've actually read the article, and not just the headline). The bitcoin ATMs themselves aren't fraudulent. It's just that scammers demand payment through using bitcoin ATMs to the victims as a better alternative to accepting iTunes vouchers like the article said.

yes, I am not saying this is cheating on bitcoin atm, I am just saying the bitcoin atm has become a vulnerable thing to use in the Australian country that I mean, and whether later if the bitcoin atm has spread in all countries it will have the same impact, which is the target of scammers or there is more security improvement

mk4

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📟 t3rminal.xyz

I think you've misunderstood the article(assuming you've actually read the article, and not just the headline). The bitcoin ATMs themselves aren't fraudulent. It's just that scammers demand payment through using bitcoin ATMs to the victims as a better alternative to accepting iTunes vouchers like the article said.

dohh

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Quote from: demenBTC on November 15, 2018, 01:21:06 AM

I have read an article from Jeffrey Gogo which explains about Bitcoin ATMs in Australia https://news.bitcoin.com/bitcoin-atms-most-common-scam-payment-method-in-australia/
do you think this will happen in every country if you have used a bitcoin ATM?

Something You need to understand about BTC ATMs. They are not ATMs in traditional meaning. While, they are for sure able to suck in Your money for real, they dont have one central (actually quite trustworthy) financial institution behind it. They are just computers, which are connected to one of the BTC exchange platvorms.

demenBTC

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I have read an article from Jeffrey Gogo which explains about Bitcoin ATMs in Australia https://news.bitcoin.com/bitcoin-atms-most-common-scam-payment-method-in-australia/
do you think this will happen in every country if you have used a bitcoin ATM?

Topic: Bitcoin ATM are prone to fraud (Read 111 times)