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Over $1.5M Bitcoin Stolen From General Bytes BTC ATMs

2 mins
Updated by Ryan Boltman
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In Brief

  • Bitcoin ATM maker General Bytes experienced a security incident that led to the loss of $1.5 million BTC.
  • General Bytes described this breach severity as "highest."
  • The BTC ATM manufacturer said it was shutting down its cloud services as a precautionary measure.
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According to a press statement, Bitcoin ATM maker General Bytes experienced a security incident between March 17 and 18 that allowed a hacker to access its database.

The hacker uploaded his java application remotely through the master service interface and ran it using the BATM user privileges. The firm described this breach severity as “highest.”

General Bytes said the incident enabled the attacker to access funds in hot wallets and exchanges, send funds from hot wallets, steal usernames and passwords, and turn off two-factor authentication. It added that its cloud services were breached alongside other operators’ standalone servers.

The company urged users to act immediately to protect their funds and personal information. It wrote:

“We urge all our customers to take immediate action to protect their funds and personal information and carefully read the security bulletin listed here.”

The amount of information the attacker stole was unclear as of press time. Meanwhile, the company said it shut down its cloud services temporarily as a precaution. The firm’s ATMs in the United States have also been reportedly shuttered.

Over $1.5 Million Bitcoin Stolen

According to on-chain data, a wallet used in the attack holds 56 BTC — worth over $1.5 million — received around the time of the attack. Etherscan data showed that the attacker also moved around 21.79 Ethereum ($39,043) through Uniswap decentralized exchange (DEX).

Source: Blockchair

Per General Bytes, other wallets used by the hacker during the attack belonged to digital assets like XRP, BUSD, Cardano, DAI, DogeCoin, Shiba Inu, Tron, etc.

The total amount of crypto the attacker stole was unclear as of press time.

General Bytes Releases Security Fix

General Bytes has released a security fix for the incident and has urged users to implement the fix it wrote. According to the firm, users must upgrade their servers and invalidate all passwords, API keys, and hot wallets.

This is not the first that General Bytes has experienced a breach. In August 2022, the company reported a hack that led to the theft of deposited Bitcoins at ATMs. At the time, the company said around $16,000 were stolen by the hackers.

Meanwhile, General Bytes is one of the top Bitcoin ATM manufacturers. The company has sold over 15,000 machines in more than 149 countries.

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Oluwapelumi Adejumo
Oluwapelumi believes Bitcoin and blockchain technology have the potential to change the world for the better. He is an avid reader and began writing about crypto in 2020.
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