bitcoin can't be robbed | Bitcointalksearch.org

Fatunad

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Quote from: RiverBoy on July 31, 2023, 03:06:15 PM

That's very funny for a person building Bitcoin ATM to withdraw Bitcoin or any other cryptocurrency, which is not possible, because Bitcoin is simply means a digital currency, which can not touched, but only see the virtual figure of the assets you have in wallet and all Bitcoin transaction are being done online. Accept when government officially accept as a means of transaction in a country, it can be able to link with Bank, by issues ATM to withdraw as Fiat money, base on the current price in market to the local currency exchange rate, it we come to past as long Bitcoin is exist on the planet

This is the difference if you do have the knowledge or not and since these robbers do really have that kind of knowledge about ATM's on having fiat then they would really be coming after on whats inside.
The thing on here is that they do destroyed out an BTC ATM machine which you wouldnt really be seeing any cash inside or if ever there's one then it wont really be that soo much big.
Everything would really be that in digital form in terms of those amounts and if you dont have the idea on what it is, then you would really be having impressions that the said ATM is empty
and having no cash but eventually that is really having that funds inside but its on digital form.I dont know if these ATM's does have that kind of private key generation for each
address, but if it does have then it could potentially be that known on those possible exploits of those wallets that had been that generated.

Ayebabara

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Those are naive arm robbers, they are very stupid of thinking of such and making such move. They are ignorant of bitcoin. Bitcoin is only meant for online and nobody can steal the way they steal from the local Banks. Even they steal hardware wallet, yet they can't transfer the coins in the wallet without the key. Unless they forcefully took the keys from the owner as well. Then another how to do it, because from the op story the way I look at it , the arm robbers didnot even know anything about bitcoin they might only know that bitcoin is money and they were they to steal the money. Lol. What a disappointment.

Franctoshi

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Quote from: serjent05 on July 31, 2023, 05:30:09 PM

Quote from: worle1bm on July 31, 2023, 07:58:00 AM

If we just leave aside this case then there are many ways btc can be robbed like online scams or even physical threats also if someone came to know about your Bitcoin storage as we have seen in some cases. So the title doesn't go in all bitcoin ATMs also have cash inside them so they can get it although they were fool enough to take it as fiat one. But there are ways if you are ignorant enough that your BTC can go to someone else.

I agree, Bitcoin just like any other asset and finances can be robbed if we are too careless with our information and security. Hackers and scammers always aim to find vulnerabilities among Bitcoin holders. If they found out that there are these vulnerabilities that they can exploit to get access to our Bitcoin then they can rob it. So there are lot of evidence that can dispute @OP's title disregarding the incident of the ATM stated in the first post.

So I would say to the newcomers that are reading this thread that Bitcoin can be robbed if we are very lapse in securing our Bitcoin holdings.

This scenario that Op illustrated is not in agreement with the topic or subject matter, and in reality, Bitcoin can be robbed in the ATM if the robbers can hack through the Bitcoin ATM, it is just for them to transfer the funds there to an unknown wallet address.
And if the ATM were to dispense cash very possible except for the fact they are only used for online transactions which they can hack into and steal the money.

serjent05

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Quote from: worle1bm on July 31, 2023, 07:58:00 AM

If we just leave aside this case then there are many ways btc can be robbed like online scams or even physical threats also if someone came to know about your Bitcoin storage as we have seen in some cases.So the title don't go in all the ways as bitcoin ATM machine also have cash inside it so they can get it although they were fool enough to take it as fiat one.But there are ways if you are ignorant enough that your btc can go to someone else.

I agree, Bitcoin just like any other asset and finances can be robbed if we are too careless with our information and security. Hackers and scammers always aim to find vulnerabilities among Bitcoin holders. If they found out that there is these vulnerabilities that they can exploit in order to get access to our Bitcoin then they can rob it. So there are lot of evidence that can dispute @OP's title disregarding the incident of the ATM stated in the first post.

So I would say to the newcomers that are reading this thread that Bitcoin can be robbed if we are very lapse in securing our Bitcoin holdings.

Pablo-wood

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Quote from: SquirrelJulietGarden on July 31, 2023, 04:26:42 AM

You use cash to buy Bitcoin at Bitcoin ATMs.
You see in the following article, there is no bank cards to use and trade at Bitcoin ATMs that only have cash. If you need bank cards to use at Bitcoin ATMs, is it better than using banks and bank ATMs? KYC will be required and if you are Bitcoin user, more or less you don't like KYC.

Bitcoin ATMs: A beginner’s guide to Bitcoin teller machines

Thanks for that resourceful insight. I now get why Bitcoin ATMs won't use bank cards the KYC phobia; I used to think bank cards were the major means by which Bitcoin users purchased their coin but now I understand why cards will never be used on a Bitcoin ATM machine so as to maintain to keep the transaction pseudonymous.

RiverBoy

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That's very funny for a person building Bitcoin ATM to withdraw Bitcoin or any other cryptocurrency, which is not possible, because Bitcoin is simply means a digital currency, which can not touched, but only see the virtual figure of the assets you have in wallet and all Bitcoin transaction are being done online. Accept when government officially accept as a means of transaction in a country, it can be able to link with Bank, by issues ATM to withdraw as Fiat money, base on the current price in market to the local currency exchange rate, it we come to past as long Bitcoin is exist on the planet

worle1bm

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If we just leave aside this case then there are many ways btc can be robbed like online scams or even physical threats also if someone came to know about your Bitcoin storage as we have seen in some cases.So the title don't go in all the ways as bitcoin ATM machine also have cash inside it so they can get it although they were fool enough to take it as fiat one.But there are ways if you are ignorant enough that your btc can go to someone else.

SquirrelJulietGarden

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Quote from: Pablo-wood on July 30, 2023, 07:40:44 PM

I think majority of the Bitcoin ATM uses Debit/Credit card which means if the ATM machine the bandits took doesn't use cash deposit it will be a major disappointment for them and if peradventure it uses cash deposit they will never be as satisfied as they should because no matter how much they realise from the machine the feelings won't be compared to that they would have had if it was Bitcoin the were able to steal because the deposit made at the machine will be retrieved by the operators on interval base since it is only programmed to accept fiat and send Bitcoin in return to the wallet provided.

You use cash to buy Bitcoin at Bitcoin ATMs.
You see in the following article, there is no bank cards to use and trade at Bitcoin ATMs that only have cash. If you need bank cards to use at Bitcoin ATMs, is it better than using banks and bank ATMs? KYC will be required and if you are Bitcoin user, more or less you don't like KYC.

Bitcoin ATMs: A beginner’s guide to Bitcoin teller machines

Pablo-wood

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Quote from: BitMaxz on March 06, 2023, 07:26:42 PM

They can't get Bitcoin at an ATM but the real cash is inside that machine.
So why would they be disappointed if they already get some cash?

Bitcoin ATM works: before you buy Bitcoin you need cash to deposit so it should have some cash unless all transactions made on that machine are via Debit/credit card.

I think majority of the Bitcoin ATM uses Debit/Credit card which means if the ATM machine the bandits took doesn't use cash deposit it will be a major disappointment for them and if peradventure it uses cash deposit they will never be as satisfied as they should because no matter how much they realise from the machine the feelings won't be compared to that they would have had if it was Bitcoin the were able to steal because the deposit made at the machine will be retrieved by the operators on interval base since it is only programmed to accept fiat and send Bitcoin in return to the wallet provided.

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Quote from: Y3shot on March 06, 2023, 06:14:16 PM

About 3 years ago world bandit break into bitcoin Atm thinking they could get some coin from it. So funny they found nothing to go with. I'm very sure they were disappointed . Bitcoin is mysterious 😄

https://twitter.com/pete_rizzo_/status/1632724529595154433?t=vnCJCK16Pa6jKPrgXFP7pA&s=19

They obviously took the cash money from inside of the ATM after they cracked it open. The design of the ATM is not very successful btw it looks more like a tin can with thin metal and probably not too heavy too. Grin

taufik123

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They only think that Bitcoin ATM machines are the same as ATM machines in general which have a lot of cash in them.
Even though the Bitcoin ATM machine only contains the Bitcoin address and Privatekey held by the ATM machine owner.
It was the robber's worst experience and with great difficulty to damage the Bitcoin ATM machine.

The robber didn't learn about Bitcoin first so they didn't get anything out of their crime.
It was a pretty stupid robbery, but he will learn from this experience and try to figure out how Bitcoin works.

Dr.Osh

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LOL, I'm pretty sure these people think that there is a lot of cash inside, or even some physical form of value. which means, thieves trying to take advantage of those bitcoin ATM machines don't understand how Bitcoins work. When they do that, all they get is tired, and also chase from the authorities. it must have been their worst experience ever trying to rob.

Victorik

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Quote from: Y3shot on March 06, 2023, 06:14:16 PM

About 3 years ago world bandit break into bitcoin Atm thinking they could get some coin from it. So funny they found nothing to go with. I'm very sure they were disappointed . Bitcoin is mysterious 😄

https://twitter.com/pete_rizzo_/status/1632724529595154433?t=vnCJCK16Pa6jKPrgXFP7pA&s=19

I am sure they took it literally, that since it is Bitcoin,.so the where hoping to see actual count, but ended up disappointed. They lacked the knowledge about BTC, that it is a digital currency.

GH2022

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Very true, one of my friends was sadly attacked by somebody at a Bitcoin in-person meet - it turned out that a gang wished to rob him thinking that he had actual physical Bitcoins on him.

Sadly, he refused to trade again with anybody.

nur rochid

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Quote from: TravelMug on June 23, 2023, 08:50:36 PM

Quote from: terencio on June 23, 2023, 12:30:43 PM

That's hilarious! I can imagine their faces when they realized they wasted their time and effort. Bitcoin is indeed mysterious and also very secure. You can't just steal it from a machine. You need to have the private keys and passwords.😂

And there could be 2 sets of robbers, those who did their job and "case" it putting going after it, and those who are dumb who thinks that bitcoin ATM is the same as a regular fiat ATM. And then they think it's easy to steal because the machine is small as compare to a regular ATM, thus they can just pull it out and then have 4x4 to do that for them. However, they could be surprised that there are no money inside the ATM machine. Grin

In any case, we should be aware of the $5 wrench attack as this is the most dangerous strike on us bitcoin investors. They can just go put a gun at you in your home and forcing you to give the robbers the access to your account.

fortunately the robber was not familiar with bitcoin, so his understanding was like an ATM in general. indeed this is a distinct advantage by using bitcoin, by not carrying cash, we benefit from crime. maybe after this the thief will learn about bitcoin and afterwards smile to himself while making a fool of himself. but also bitcoin users must always protect the private key so that it does not fall into the hands of other people

Bitcoin_people

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Quote from: macson on June 20, 2023, 03:40:46 PM

Quote from: Y3shot on March 06, 2023, 06:14:16 PM

About 3 years ago world bandit break into bitcoin Atm thinking they could get some coin from it. So funny they found nothing to go with. I'm very sure they were disappointed . Bitcoin is mysterious 😄
snip
https://twitter.com/pete_rizzo_/status/1632724529595154433?t=vnCJCK16Pa6jKPrgXFP7pA&s=19

this is one proof that education about bitcoin is very important LOL

this is the first time i've seen a case as funny as this ^{(in my country cases like this have never happened)}, do they think that bitcoin has a physical body, access to investigate what bitcoin is is now widely circulated on the internet and anyone can easily see that that's why the ATM thief seems to be a reckless person and not do some research first ^{(getting caught by the cops for something we can't have and have no physical body, that's really funny)}

The robber who came up with the idea that he would break into the Bitcoin ATM machine and take all the Bitcoins. This is really a funny thing. Although the robber didn't learn much about Bitcoin, maybe someone heard about the value of Bitcoin. And later he had such a stupid idea and did this. If the thief knew the details about the physical body of this bitcoin, he might not have done such a stupid thing. This is the first time I have heard this story and it makes me laugh. Earlier I heard ATM machines were vandalized by a thief for money. When the machine was broken there was no money and the thief was surprised to act like a fool. Likewise, another stupid thief broke into an ATM machine to get his hands on bitcoins to no avail. It's a funny thing really, the thief needs to have some knowledge but he may have no knowledge of the technology for which he broke the bitcoin machine.

TravelMug

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Quote from: terencio on June 23, 2023, 12:30:43 PM

That's hilarious! I can imagine their faces when they realized they wasted their time and effort. Bitcoin is indeed mysterious and also very secure. You can't just steal it from a machine. You need to have the private keys and passwords.😂

And there could be 2 sets of robbers, those who did their job and "case" it putting going after it, and those who are dumb who thinks that bitcoin ATM is the same as a regular fiat ATM. And then they think it's easy to steal because the machine is small as compare to a regular ATM, thus they can just pull it out and then have 4x4 to do that for them. However, they could be surprised that there are no money inside the ATM machine. Grin

In any case, we should be aware of the $5 wrench attack as this is the most dangerous strike on us bitcoin investors. They can just go put a gun at you in your home and forcing you to give the robbers the access to your account.

Accardo

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Quote from: JoyMarsha on June 20, 2023, 07:15:38 PM

For once, I had considered such an incident in the past. What if someone points a gun and ordered someone with Bitcoin to send it to an unidentified address? How will the person begin to trace the robber?

I think chain analysis can take care of that and since it has to do with a broad day event the police can get involved in the search of the person. But if the thief is not aware of bitcoin, to avoid the whole trouble and stress, the victim can quickly reduce the bitcoin fees such that it'll be difficult for miners to confirm the transaction, at least it can delay for days and get cancelled that's if the wallet doesn't support double spending.

serjent05

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Quote from: terencio on June 23, 2023, 12:30:43 PM

That's hilarious! I can imagine their faces when they realized they wasted their time and effort. Bitcoin is indeed mysterious and also very secure. You can't just steal it from a machine. You need to have the private keys and passwords.😂

But I think that these robbers are happy after their robbery. They are not for the Bitcoin but for the cash inside that ATM. Only naive people thinks that these robbers walks out without anything in their hands. Although they maybe not knwledgeable about BTC or even if they are, their main purpose is to rob that Bitcoin ATM of cash since it is possible that they knew they can be traced if they steal those Bitcoin. I think these robbers are smart.

alastantiger

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Bitcoin is vulnerable to theft, as exemplified by the concept of a "$5 wrench attack." When individuals openly share Bitcoin-related content without safeguarding their identity, it becomes easier for someone to trace their location, workplace, or daily routines. Subsequently, the perpetrator acquires a cheap wrench and either confronts the victim at their residence or intercepts them during their regular morning walks. Through physical force or the threat thereof, the attacker coerces the victim into revealing their private keys or passwords to their Bitcoin wallet, resulting in the loss of their Bitcoin holdings. It is essential not to underestimate the possibility of Bitcoin theft.

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