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HomeNewsCryptocurrency Platform Hacked! Coins Stolen!

Cryptocurrency Platform Hacked! Coins Stolen!

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General Bytes, a leading cryptocurrency ATM manufacturer, reported that it was recently hacked. The firm said the hacker involved stole $1.5 million worth of Bitcoin (BTC).

Millions of BTC stolen from the cryptocurrency platform!

cryptocoin.com As you follow, in the previous week, a handful of traditional banks in the United States were hit hard. This time, crypto seems to have suffered its fair share of pushbacks, as a leading global cryptocurrency ATM manufacturer was recently exploited by hackers.

General Bytes, one of the world’s leading manufacturers of cryptocurrency automatic cash machines (ATMs), suffered a security breach on March 17 and 18. The hacker managed to steal 56.28 Bitcoins, worth a staggering $1.5 million at the time of the attack. The stolen Bitcoins were received from cryptocurrency ATM operators in the United States. The number of affected operators is between 15 and 20. A significant number of ATM operators in the country had to shut down for a short time.

One day after the event, on March 18, the company made an announcement on Twitter to inform the public about the event. The firm reported that a notice has been issued warning customers to ensure their funds are safe, as well as their personal information. In this context, General Bytes shared the following:

On March 17-18, 2023, General Bytes experienced a security breach. We have issued a statement encouraging customers to take immediate action to protect their personal information. We urge all our customers to take immediate action and carefully read the security bulletin to protect their funds and personal information.

General Bytes has given customers a detailed instruction

The cryptocurrency platform explained in the bulletin that the attacker managed to remotely install its own Java application. This was done using the main service interface typically used by terminals to upload and run videos using ‘batm’ user privileges. This then resulted in gaining access to certain information that would otherwise be private. The hacker gained the ability to access the database. Data can also read and decrypt API keys, which are often used to access funds on hot wallets and exchanges.

Additionally, the hacker can send money from hot wallets, download usernames, password hashes, and turn off two-factor authentication. The hacker can also access terminal event logs and scan any instance where customers have stored private keys at the ATM. The newsletter also explained the steps users can take to find out if your server has been breached.

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