These criminals are expert on that field of crime, but they're just stealing out the machine itself without any physical value of money. However, they're fooling on their minds upon grabbing bitcoin atm but in reality they can't find money out of that machine due to protected funds within that device.
They'll need to crack down the security of this crypto atm, before they'll able to take everything out of it.
Hopefully, this incident would provide them lessons to improve atm machines security for another possible attacks.
Topic: Bitcoin ATM stolen in a liquior store - page 3. (Read 515 times)
Looking at the way Scott emphasized on the Bitcoin ATM, I think what he wanted for us to understand is that the thieves were selective for some reason; they saw the Bitcoin ATM of greater importance than the cash ATM. People steal valuable things right? and cash ATM being left behind shows it's losing its value.
I am sure that the offender will be arrested. There are security cameras that will help solve the case. From what I can observe is that the criminal preferred the bitcoin ATM under the assumption that there would be a lot of cash. I do not see it as a propaganda against bitcoin hopefully I am not wrong. The criminal act may have been repeated on other occasions in any part of the world but this time it was made public.
The thieves might actually be aware that bitcoin has a higher value than fiat so they chose bitcoin atm machine rather than the cash atm machine. Without knowing, they can never steal bitcoin as simply as that. There is a high security on bitcoin that whoever attempts to robbed it will never be come out successful. Hopefully, store owners should be more cautious and careful next time because this case will definitely be repeated in an unexpected time.
I am sure that the offender will be arrested. There are security cameras that will help solve the case. From what I can observe is that the criminal preferred the bitcoin ATM under the assumption that there would be a lot of cash. I do not see it as a propaganda against bitcoin hopefully I am not wrong. The criminal act may have been repeated on other occasions in any part of the world but this time it was made public.
I'm thinking if they're aiming to steal the bitcoins "inside" the ATM or they really know what they've done. But this act should be stop, someone who owns a Bitcoin ATM is already helping to spread the word about bitcoin and at the same time, he's just a typical businessman.
This sucks when some thieves get to aim your business. I hope that they'll be caught as soon as possible.
This sucks when some thieves get to aim your business. I hope that they'll be caught as soon as possible.
I'm curious because bitcoin ATMs seem so easy to steal but why don't they choose fiat ATMs that are easier to get money from than bitcoin ATMs? . because if you choose a bitcoin ATM, there will be a lot of problems such as processing errors or QR codes about passwords, key wallets are difficult to decipher. It seems that this is a rather reckless and daring idea... . 
They don't know it and might these thieves think there is money inside. Once they arrive at their meeting place, there to find how stupid they are and being ignorant to Bitcoin ATM. Maybe they got lucky if someone put their private keys...lol I think all the stores must have to secure their ATMs in order to avoid them from happening again. In this pandemic situation, a lot of people are getting obsessed to get money and we have to anticipate this thing before it happens.
Definitely, they are not dumb to do this crime without planning and thinking of what was at stake. We won't know their ulterior motives, unless, they will disclose it to the public or the police will catch them. I haven't used a bitcoin ATM yet, so I don't know what kind of vulnerability that a user will encounter in case the ATM he used is compromised. But more than likely these thieves already did their homework before pulling this act.
I'm curious because bitcoin ATMs seem so easy to steal but why don't they choose fiat ATMs that are easier to get money from than bitcoin ATMs? . because if you choose a bitcoin ATM, there will be a lot of problems such as processing errors or QR codes about passwords, key wallets are difficult to decipher. It seems that this is a rather reckless and daring idea... .
They don't know it and might these thieves think there is money inside. Once they arrive at their meeting place, there to find how stupid they are and being ignorant to Bitcoin ATM. Maybe they got lucky if someone put their private keys...lol I think all the stores must have to secure their ATMs in order to avoid them from happening again. In this pandemic situation, a lot of people are getting obsessed to get money and we have to anticipate this thing before it happens.
I'm curious because bitcoin ATMs seem so easy to steal but why don't they choose fiat ATMs that are easier to get money from than bitcoin ATMs? . because if you choose a bitcoin ATM, there will be a lot of problems such as processing errors or QR codes about passwords, key wallets are difficult to decipher. It seems that this is a rather reckless and daring idea... .
They don't know it and might these thieves think there is money inside. Once they arrive at their meeting place, there to find how stupid they are and being ignorant to Bitcoin ATM. Maybe they got lucky if someone put their private keys...lol I think all the stores must have to secure their ATMs in order to avoid them from happening again. In this pandemic situation, a lot of people are getting obsessed to get money and we have to anticipate this thing before it happens.
frankly this is extreme, i thought that ATM robberies were a thing of the past and thieves were busy robbing banks or large companies, but from what i see there are still thieves who are concerned about robbing ATMs which in most cases are ATM which are located where there are cameras, how the hell did these thieves not see that most ATMs are installed near cameras, I don't know if that only counts in my country, but from what I've seen in the movies hardly an ATM is in a place where there isn't cameras nearby, even if it's ATM bitcoin I doubt that bitcoin ATM owners don't put ATM bitcoin in places where they have cameras
Well perhaps there is a big amount of cash who was bought bitcoin at that time and the thieves know this because if the thieves stole bitcoin ATM for the bitcoin itself, I don't know how they will get the bitcoin since it is protected by the private key and seed phrase on the machine not unless if there is a key inside the machine which is we never know how was that will going on. So believe there is big cash there that make the thieves attack and stole the bitcoin ATM. Possibly it will happen again in the future, store bitcoin machine owner should secure their ATM machines inside the store and not on the outside and it should have a security guard.
I'm curious because bitcoin ATMs seem so easy to steal but why don't they choose fiat ATMs that are easier to get money from than bitcoin ATMs? . because if you choose a bitcoin ATM, there will be a lot of problems such as processing errors or QR codes about passwords, key wallets are difficult to decipher. It seems that this is a rather reckless and daring idea... .
The next level of crime will be the robbery of banks and vaults, during which robbers will not take cash and jewellery, but hardware and paper bitcoin wallets that are stored in safety deposit boxes.
I've always thought the frequent recommendation of storing wallet backups on bank safety deposit boxes was dangerous as heck. Just the thought of entrusting something so sensitive to a bank is enough to make me uneasy, even with a passphrase.
could try 2 of 3 multisig plus passphrase in a couple different bank deposit boxes (in different towns/states) plus one hidden at home maybe. or variants of this. while a government or TLA etc could confiscate all of the deposit boxes the odds of a straight criminal robbery getting 2 of the 3 before you can xfer the coins to elsewhere is pretty low.
Even it is Bitcoin ATM or other ATMs, the thing that they can steal from that ATM is the cash itself, isn't it?
Isn't this the same thing as theft of money at another ATM? Do they still get cash from the ATM? Not the Bitcoin they get, right?
This is funny, and I think it is true enough
Isn't this the same thing as theft of money at another ATM? Do they still get cash from the ATM? Not the Bitcoin they get, right?
Quote
"Honestly, if I was going after Bitcoin and trying to steal it, I would hack instead," said Caroline Chen, a business professor at San Jose State University. "Because then I know I can steal millions of dollars of Bitcoin in one fell swoop, instead of the ATM at the local convenience store that has $200 of actual cash in it."
SourceThis is funny, and I think it is true enough
Plot twist: the thieves stole the ATM with the intention of stealing the bitcoin rather than stealing the cash.
Jokes aside, if they actually chose the Bitcoin ATM, they must know that the Bitcoin ATM was totally in demand (hence there's likely to be a lot of cash).
I wouldn't be surprised if they actually believed the first one. However, I'm not exactly sure if the robbery of the ATM being a Bitcoin type one was intended, or just grabbed the opportunity to steal any random ATM. Clueless on how popular they are elsewhere, but they are a pretty rare sighting where I live. Jokes aside, if they actually chose the Bitcoin ATM, they must know that the Bitcoin ATM was totally in demand (hence there's likely to be a lot of cash).
The government are very much renowned for directing accusatory statements at Bitcoin, thus I'd not be surprised if they jump on this one, they could go about dissuading people about Bitcoin as a result of this, but it's no news that Fiat ATM's can and have been stolen in the past, so they are all the same thing and type of theft. But notwithstanding, for people who dislike Bitcoin like the government, the headline on the news: "Bitcoin ATM stolen", is enough delight for them and they could use it to start another propaganda against the coin and why people should not use it.
"Not the cash but the bitcoin ATM". probably those thieves knows how much they can get from the machine compared to the cash within.. but still a big mistake because for sure that ATM is secured and only people who have the confirmation codes can get money from it since it was digitally, so a wrong move! .. Lol indeed they will be punish because of what they did so why not take all especially the cash.? . Very funny theives..
They might still not know that BTC is a digital money, mostly those thieves due to lack of knowledge they only resort their living to do bad activity as they were not given opportunity to have their own job or worst too lazy to find their own job for living. In my country for sure they will not mind if its a bitcoin or cash as long as it looks like a ATM machine thieves will attack it or even if it is jus any vending machines. but still a big mistake because for sure that ATM is secured and only people who have the confirmation codes can get money from it since it was digitally, so a wrong move! .. Lol indeed they will be punish because of what they did so why not take all especially the cash.? . Very funny theives.. 
Probably the thieves thought there were bitcoins stored inside the ATM. 
This kind of thief isn't the smartest one and by judging how greedy and misinformed they are added to the frequent news regard bitcoin mainstream media is spreading right now, it's really possible they imagined those ATMs held some btcs. And even though they are going to get none, I'm sure they will find a way or another to make some profit from this "hit and run operation". Selling the machine to someone else is an option.
This kind of thief isn't the smartest one and by judging how greedy and misinformed they are added to the frequent news regard bitcoin mainstream media is spreading right now, it's really possible they imagined those ATMs held some btcs. And even though they are going to get none, I'm sure they will find a way or another to make some profit from this "hit and run operation". Selling the machine to someone else is an option.
Or maybe the thieves wasn't aware that it was a bitcoin atm and thought it was just a regular atm full of cash?
Or maybe they initially plan to hack, but abandon the idea because they are not that technical in the first place and just decided to rob the nearest bitcoin atm? Lol.
They are lucky if there are some cash on it, hopefully we will hear a follow news about this.
Or maybe they initially plan to hack, but abandon the idea because they are not that technical in the first place and just decided to rob the nearest bitcoin atm? Lol.
They are lucky if there are some cash on it, hopefully we will hear a follow news about this.
What can thieves take from a bitcoin ATM? does it contain fiat money like ATM in general? I don't know what the motive behind this theft is, because in the country where we live there are only banknote ATMs available. If bitcoin ATMs are vulnerable to being stolen, why doesn't the government place them in a place where guards watch out.
I am going to go with
1) They saw ATM and went for it, not knowing it was a BTC ATM.
OR
2) They knew that there were a lot of people using it to go fiat ->BTC and knew that there would be a lot of cash in it.
OR
3) They were going to take more stuff but they heard sirens coming and left more quickly then they originally planned.
-Dave
1) They saw ATM and went for it, not knowing it was a BTC ATM.
OR
2) They knew that there were a lot of people using it to go fiat ->BTC and knew that there would be a lot of cash in it.
OR
3) They were going to take more stuff but they heard sirens coming and left more quickly then they originally planned.
-Dave
Jump to: