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Analyzing GENERAL BYTES Bitcoin ATM Maker Breach And Protecting Yourself
Bitcoin ATM maker GENERAL BYTES has announced that it has experienced a security incident of the highest severity. According to the company, the attacker was able to identify a security vulnerability in the master service interface used by Bitcoin ATMs to upload videos to the server.
This vulnerability allowed the attacker to read and decrypt API keys used to access funds in hot wallets and exchanges.
The attacker was able to upload a java application remotely via the master service interface used by terminals to upload videos and run it using batm user privileges. This gave them access to the database, the ability to send funds from hot wallets, and the ability to download user names and their password hashes. Additionally, the attacker was able to turn off two-factor authentication and access terminal event logs.
The incident affected older versions of ATM software that were logging customer’s private key information. GB has advised customers to investigate their master.log and admin.log files for time gaps when the server was not logging anything, which is a certain indicator of an attack. Customers should also look for suspicious content in /batm/app/admin/standalone/deployments/ and consider that their user passwords and API keys have been compromised.
The company has recommended that customers regenerate new API keys and invalidate old ones, change all user passwords, and install their own Standalone server. GB has stated that it is shuttering its Cloud service as it is impossible to secure a system granting access to multiple operators at the same time where some of them are bad actors. GB support will help customers migrate their data from the GB Cloud to their own Standalone server.
In conclusion, GB has experienced a significant security incident that has compromised customer information and API keys. Customers should take immediate action to protect themselves by regenerating API keys, changing passwords, and installing their own Standalone server. The incident highlights the importance of security measures in the cryptocurrency industry, and the need for constant vigilance against attackers.
#BitcoinATM #BTCATM #GENERALBYTES #hack #azcoinnews
This article was republished from azcoinnews.com
This vulnerability allowed the attacker to read and decrypt API keys used to access funds in hot wallets and exchanges.
The attacker was able to upload a java application remotely via the master service interface used by terminals to upload videos and run it using batm user privileges. This gave them access to the database, the ability to send funds from hot wallets, and the ability to download user names and their password hashes. Additionally, the attacker was able to turn off two-factor authentication and access terminal event logs.
The incident affected older versions of ATM software that were logging customer’s private key information. GB has advised customers to investigate their master.log and admin.log files for time gaps when the server was not logging anything, which is a certain indicator of an attack. Customers should also look for suspicious content in /batm/app/admin/standalone/deployments/ and consider that their user passwords and API keys have been compromised.
The company has recommended that customers regenerate new API keys and invalidate old ones, change all user passwords, and install their own Standalone server. GB has stated that it is shuttering its Cloud service as it is impossible to secure a system granting access to multiple operators at the same time where some of them are bad actors. GB support will help customers migrate their data from the GB Cloud to their own Standalone server.
In conclusion, GB has experienced a significant security incident that has compromised customer information and API keys. Customers should take immediate action to protect themselves by regenerating API keys, changing passwords, and installing their own Standalone server. The incident highlights the importance of security measures in the cryptocurrency industry, and the need for constant vigilance against attackers.
#BitcoinATM #BTCATM #GENERALBYTES #hack #azcoinnews
This article was republished from azcoinnews.com
UK Police Charge Shop Owner Over Unregistered Bitcoin ATM #BTCATM
Digital AssetUK Crypto #AssetsAllocation
An extensive crackdown on illicit digital asset businesses has begun with the charging of a man in the UK who ran an unlicensed cryptocurrency ATM.
The UK police charged Habibur Rahman, 37, from East Ham, London, on August 28 with operating unregistered crypto ATMs and laundering thousands of pounds. ,
The landmark event marks the UK’s first prosecution for crypto ATM operations, signaling an important step in the country’s efforts to combat illegal digital asset activities.
UK Man Charged for Running Illegal Crypto ATM
Rahman’s arrest came in 2023, following a police raid on an electronics shop in Chatham, Kent, where multiple crypto ATMs were seized.
#CryptoNewsCommunity
Crypto ATMs, once popular in the UK, have been under scrutiny since the Financial Conduct Authority (FCA) banned them in 2022, warning machine operators to “shut their machines down” or “face enforcement action.”
The outright ban sought to ensure the operators were duly registered with the regulatory agency. Instead, the ban and sustained crackdown have greatly reduced the number of Bitcoin machines in the country.
According to Coin ATM Radar, the UK had 81 operational crypto ATMs as of March 2022.
However, none are currently listed on the platform.
Rahman has been charged with operating an unregistered crypto ATM and laundering £300,000 ($395,000) in criminal proceeds through cryptocurrency conversion.
Authorities suspect this operation is often linked to illegal activities, including money laundering and fraud. Rahman is out on bail and scheduled to appear in court on October 10.
Crackdown on Crypto ATMs #ATM+1.35%
The case against Rahman is part of a larger global effort to regulate and crack down on the illegal use of crypto ATMs.
According to research by crypto analyst TRM Labs, the cash-to-crypto industry, which primarily operates through these machines, has processed at least $160 million in illicit volumes since 2019.
Digital AssetUK Crypto #AssetsAllocation
An extensive crackdown on illicit digital asset businesses has begun with the charging of a man in the UK who ran an unlicensed cryptocurrency ATM.
The UK police charged Habibur Rahman, 37, from East Ham, London, on August 28 with operating unregistered crypto ATMs and laundering thousands of pounds. ,
The landmark event marks the UK’s first prosecution for crypto ATM operations, signaling an important step in the country’s efforts to combat illegal digital asset activities.
UK Man Charged for Running Illegal Crypto ATM
Rahman’s arrest came in 2023, following a police raid on an electronics shop in Chatham, Kent, where multiple crypto ATMs were seized.
#CryptoNewsCommunity
Crypto ATMs, once popular in the UK, have been under scrutiny since the Financial Conduct Authority (FCA) banned them in 2022, warning machine operators to “shut their machines down” or “face enforcement action.”
The outright ban sought to ensure the operators were duly registered with the regulatory agency. Instead, the ban and sustained crackdown have greatly reduced the number of Bitcoin machines in the country.
According to Coin ATM Radar, the UK had 81 operational crypto ATMs as of March 2022.
However, none are currently listed on the platform.
Rahman has been charged with operating an unregistered crypto ATM and laundering £300,000 ($395,000) in criminal proceeds through cryptocurrency conversion.
Authorities suspect this operation is often linked to illegal activities, including money laundering and fraud. Rahman is out on bail and scheduled to appear in court on October 10.
Crackdown on Crypto ATMs #ATM+1.35%
The case against Rahman is part of a larger global effort to regulate and crack down on the illegal use of crypto ATMs.
According to research by crypto analyst TRM Labs, the cash-to-crypto industry, which primarily operates through these machines, has processed at least $160 million in illicit volumes since 2019.
#BTC #BTCATM BIT COIN ATM
A different kind of ATM is setting up shop in your local convenience store.
These machines look like traditional banking kiosks, but they allow customers to buy bitcoin in cash.
Bitcoin ATMs, or BTMs, exploded in popularity between 2020 and mid-2022, at the height of the crypto craze. At their peak, BTMs totaled 34,000 across the U.S., according to Coin ATM Radar.
More and more people are using bitcoin ATMs to send money at lightning speed. A study from Bitcoin Depot, the company with the largest share of BTMs across the U.S., found that two-thirds of their customers use the machines for remittances and online purchases. But these machines have also gained a reputation as a vehicle for crime. Scammers can send their victims to these kiosks to take advantage of the faster transaction speeds.
A different kind of ATM is setting up shop in your local convenience store.
These machines look like traditional banking kiosks, but they allow customers to buy bitcoin in cash.
Bitcoin ATMs, or BTMs, exploded in popularity between 2020 and mid-2022, at the height of the crypto craze. At their peak, BTMs totaled 34,000 across the U.S., according to Coin ATM Radar.
More and more people are using bitcoin ATMs to send money at lightning speed. A study from Bitcoin Depot, the company with the largest share of BTMs across the U.S., found that two-thirds of their customers use the machines for remittances and online purchases. But these machines have also gained a reputation as a vehicle for crime. Scammers can send their victims to these kiosks to take advantage of the faster transaction speeds.
