Federal regulators just alerted banks across the country of a very dangerous new skill ATM hackers have picked up. They can trick ATMs into spitting out unlimited amounts of cash, regardless of the customer’s balance. Not only that, but also schedule the illicit withdrawals for holidays and weekends, when the ATMs are extra flush.
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It’s getting remarkably easy to hack ATMs these days, and security researchers say that Microsoft’s aging Windows XP is making the problem worse. This week, security analysts at Symantec blogged about a new technique popping up in Mexico that uses text messages to give hackers access. It’s as wild as it sounds.
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Forget infected USB sticks and complex card skimmers: sometimes, the low-tech solutions work just as well. Now, a team of crooks from Salford, UK, has used a simple old tunnel to steal cash from an ATM.
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Robocoin has announced that the first Bitcoin ATMs in the U.S. will be installed later this month in Seattle, and Austin, Texas.
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Criminals will go to all lengths
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If this next-generation display technology developed by Asukanet ever goes past the concept stage, the days of huddling over an ATM display to block your balances from prying eyes could be over. With a viewing angle of just plus or minus 20 degrees, the Aerial Imaging Plate has a very specific sweet spot that ensures your private info stays private.
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RoboCoin, a kiosk that allows you to trade Bitcoin for other currencies, is now available for pre-order and should be shipping for “Fall 2013.” Lest you decide to become the Bitcoin bank for your neighborhood, remember that the machine costs $20,000 ($18,500 for early birds) and can currently trade BTC for USD.
The device is essentially a hardened, ATM-like machine with biometric time locks and privacy-shielded touchscreen. It can accept and dispense cash (and is “International denomination-ready”) and is Wi-Fi and 3G-enabled.
According to a blog posting the team is ready to change the way Bitcoin is bought and sold.
“RoboCoin represents a compelling investment for business owners,” they write. “They’ll earn a percentage of transactions and attract Bitcoin’s loyal user-base, while also offering unprecedented access and ease-of-adoption to Bitcoin newcomers. Furthermore every Robocoin on the market increases Bitcoin liquidity and usage, putting upward pressure on the digital currency’s valuation, awareness, and legitimacy.”
Robocoin first surfaced in in San Jose at a Bitcoin conference and is directly competing with Lamassu Bitcoin Ventures Bitcoin ATM. This model connects directly to Mt. Gox or Bitstamp, two BTC exchanges, for instant funding.
Having a real, working ATM will add a considerably energy to the Bitcoin market. While these units are arguably expensive (a cheap ATM tops out at about $3,000) it’s clear that the back end is what matters here and not the box. Wheeling one of these into, say, a hacker conference or other con would get you plenty of traffic and improve the standing of Bitcoin in general. Once BTC to other currency transactions are commonplace, it’s clear that cryptocurrencies may have even more of a fighting chance.
In an age of mandatory password complexity and burgeoning biosensory protection, the idea of a four-number PIN for the ATM seems almost quaint. That doesn’t excuse the fact that the most popular PIN is still, yes, 1234. Come on, people.
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If you regularly find yourself perplexed at ATMs, help is at hand. Bank of America has announced that it’s launching a new system that will allow you to hold a live video chat with bank staff to help guide you through your ineptitude. More »
Ever found yourself in the mood for some caviar but didn’t have quite enough time to stop off for some on the way to your private jet for a trip to your own personal island? Me neither, but apparently someone has, because they invented the caviar vending machine. More »
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