• General Bytes, the largest cryptocurrency ATM manufacturer, experienced a security incident on March 17 and 18. The hacker was able to liquidate 56.28 bitcoins, worth approximately $1.5 million from about 15-20 crypto ATM operators in the U.S.
• This forced a majority of U.S.-based crypto ATM operators to temporarily shut down as General Bytes urged customers to take immediate action to protect their funds and personal information.
• General Bytes is transitioning crypto ATM operators to self-hosted servers and has discontinued its cloud service while also conducting multiple security audits since then.
General Bytes Security Incident
General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down.
Hacker Liquidates $1.5M in Bitcoin
The hacker was able to liquidate 56.28 bitcoins, worth approximately $1.5 million, from about 15 to 20 crypto ATM operators nationwide .Crypto ATM Operators Temporarily Shut Down After General Bytes Security Breach Enables Hacker to Liquidate $1.5M in Bitcoin and Other Cryptocurrencies
General Bytes ATMs Around The World
According to Coin ATM Radar statistics, General Bytes has produced 9,505 such machines globally with thousands located in the United States alone .On Saturday ,March 18 ,the company informed the public of a serious security incident that occurred on March 17 as well .
Security Measures Taken by General Bytes
We released a statement urging customers top take immediate action to protect their personal information said at 4:42 p .m .(ET) on Saturday .General bytes stated that they are discontinuing its cloud service and have conducted multiple security audits since then .They are also transitioning crypto ATMs operators into self-hosted servers which can be a lengthy process for some users .
Upto Date Crypto Safety Tips:
It is important for all cryptocurrency users especially those who use services like automated teller machines (ATMs) regularly ,to stay up-to-date with safety tips regarding their funds & personal information such as setting strong passwords & making sure 2FA is turned on whenever possible etc