Hacker Steals Funds from Major Bitcoin ATM Manufacturer’s Hot Wallets

• Major bitcoin ATM manufacturer General Bytes has closed down its cloud services after a security flaw enabled hackers to access users‘ hot wallets and acquire confidential data.
• The hacker was able to install and execute a Java application in the ATMs, which gave them access to user information and the ability to transfer funds from hot wallets.
• As a result of the breach, the hacker was able to access the company’s database, read and decrypt API keys, send funds from hot wallets, disable 2FA and download user names and password hashes.

General Bytes Security Breach

Major bitcoin ATM manufacturer General Bytes has closed down its cloud services after a security flaw enabled hackers to access users‘ hot wallets and acquire confidential data such as private keys and passwords. On March 17-18th, 2023 the company reported that a hacker was able to install and execute a Java application in its ATMs which gave them access to user information and allowed them to transfer funds from hot wallets.

Hacker Accesses Database

The breach affected both the cloud service operated by General Bytes as well as standalone servers operated by other companies meaning that the hacker had full access to the company’s database. This allowed them to read and decrypt API keys used for accessing funds in hot wallets or exchanges, send funds from these same hots wallet or exchanges, download usernames/password hashes as well as disable two-factor authentication (2FA). Furthermore they were also able to access terminal event logs which contained instances where customers had scanned their private keys at particular ATMs.

General Bytes Loses Crypto From Hot Wallets

Due to this security breach General Bytes lost crypto from their own hot wallet due to an unauthorized transfer of funds initiated by the hacker. Although there is no exact amount reported stolen it is clear that some damage has been done due to this incident.

Customers Urged To Take Action

In response General Bytes released a statement urging customers take immediate action protect their personal information such as changing passwords on any accounts using similar credentials used on their current account with General Bytes. Furthermore they also suggested customers review transactions carried out through their accounts closely for any suspicious activity or transactions they do not recognize.

Conclusion

This recent cyber attack against general bytes resulted in an extensive leak of sensitive data including private keys/passwords being compromised along with some losses incurred due fraudulent activities conducted on their platform. As such it is important for all customers using any type of cryptocurrency exchange or associated service provider be mindful of security measures taken by both themselves but also those providing said service providers so ensure safety of customers data & assets are protected at all times!