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Widely Used Bitcoin ATMs Have Major Security Flaws

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Using a BitCoin ATM.

Kraken discovered a number of software and hardware flaws in different BitCoin ATM models.

Credit: Carlos Alvarez/Getty Images

Security researchers at crypto exchange Kraken warn that many bitcoin ATMs contain serious vulnerabilities that hackers could exploit.

Kraken found software and hardware flaws within the General Bytes BATMtwo (GBBATM2) ATM model; Coin ATM Radar calculates that General Bytes has provided nearly 23% of all crypto ATMs globally, including 18.5% of U.S. units and 65.4% of European units.

Owners have installed many such ATMs without changing the default admin quick response (QR) code that functions as a password, which is shared across units.

Kraken also cited a lack of secure boot mechanisms, enabling hackers to fool GBBATM2s into running malware, as well as "critical vulnerabilities in the ATM management system."

The exchange recommends bitcoin ATM users conduct cryptocurrency transactions in trustworthy locations overseen by surveillance cameras, and for operators to change the default QR code.

From Gizmodo
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