Bitcoin ATMs Remain Safe From New Metel Bank Malware
Despite there being plenty of things going wrong in the financial sector, one of the biggest threats is not coming from the banks or other financial players themselves. Instead, a new breed of bank malware is making the rounds, spread by a Russian hacking group. Especially ATMs are the target of choice, and the implications could be very severe if no solution is found to counter this threat. Bank Malware Remains A Big Threat. Throughout 2015, ransomware and malware have been claiming many victims around the world. But in the end, banks themselves remain the prime target for hackers, or to....
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ATM Malware attacks have been a thorn in the side of both consumers and government officials in Europe over the past few months. By infecting bank ATMs with malware, user’s card information can be obtained without them realizing it. As a result, plenty of user funds is at risk, and Europol started a major investigation. Late last night, the news broke several arrests were made, and how the international criminal group responsible for this malware attack has been dismantled. ATM Malware Crime Group Arrested. Thanks to a collaboration between Europol, the Romanian National Police, and the....
Despite the mounting number of blown up bank ATMs in Europe, the “profits” only rose by 3%. Bank ATMs have always been a valuable target for criminals. In most cases, they would use malware to steal card information and defraud users. However, it looks like a more dangerous trend is taking place over in Europe right now. The number of cash machines being blown up with explosives has increased by 80% in the first half of 2016. A very worrisome trend, to say the least. One of the more obvious questions is why criminals would decide to blow up cash machines in the first place. With nearly 500....
This week on CCN, we learned about Mt. Gox's continuing woes with hints at recovery, a nasty trojan targeting cryptocurrency users, the first Bitcoin ATMs in the United States, (which our own Caleb Chen tested out!), and more. Here are some of our top stories this week in case you missed them. Mt. Gox Recovery(?). Just three days ago, the price of Bitcoin on Mt. Gox fell below $150, due to Mt. Gox suspending all Bitcoin withdrawals. This affected the value of BTC on other exchanges as well, with it being around $550 most of the week. However, there are rumours going around that Gox is....
Once the money mules purchase Bitcoin through these ATMs, they then forward the money to a specific address via a QR code. For now, it remains unsure why criminals are avoiding more common solutions such as Western Union and MoneyGram, though. Bitcoin ATMs have been relatively safe from any gang-related activity so far. That situation has come to change, as fraudsters are using these devices to launder money, according to KrebsOnSecurity. By hacking bank accounts, they deposit funds into money mules’ accounts. These mules then withdraw funds in cash and remit the stolen funds through one....
Attacks like these can also be used against Bitcoin ATMs, albeit they are a far less popular target for assailants. Automated teller machines are far from secure devices, as they are often targeted by hackers and other criminals But in some countries, things get taken to the very next level. Several gang members in Scotland have been blowing up bank ATMs in Aberdeenshire. As a result, over 130,000 GBP was stolen. Luckily, all of these gang members have been arrested and face long prison sentences. Three individuals are responsible for these attacks against bank ATMs spread out all over....