The increase in the use of cryptocurrency has not gone unnoticed by hackers. One incident in particular – when hackers exploited an unknown vulnerability (also known as a 0-day bug) to drain Bitcoin ATMs of $1.5 million – has captured headlines in the cryptocurrency community.
According to reports, the hackers hacked into 14 Bitcoin ATMs in different countries over a period of several weeks. The 0-day bug allowed the hackers to access the ATMs’ internal systems, withdraw funds, and transfer them to a Bitcoin wallet. The wallet contained 2,890 bitcoins, adding up to $1.5 million.
The 0-day bug is one of the security issues associated with Bitcoin and other cryptocurrencies. Cryptocurrencies are not regulated or insured by national governments, meaning that there is no guarantee of a refund if an attack like this one is successful.
The Bitcoin ATMs are operated by the French company, BuyBit. The company has said that it is still investigating the attack and is working to restore the funds to the ATMs. It is also encouraging customers to take extra measures to secure their accounts and take measures to protect their cryptocurrency investment.
These measures include always using a unique password and using two-factor authentication when accessing accounts, as well as using a reputable wallet. It is also important to keep up-to-date with the latest cryptocurrency news and developments, so as to stay informed of any potential vulnerabilities or threats.
This incident is a reminder of the risks associated with cryptocurrency transactions. Despite the convenience of Bitcoin and other cryptocurrencies, it is important to take steps to protect against cyber-attackers. By following the steps outlined above, you can help ensure that your cryptocurrency holdings remain secure.
