A commonly used model of bitcoin ATMs has several software and hardware vulnerabilities, Kraken Security Labs revealed in a blog post yesterday.
- The security team notified the manufacturer, General Bytes, on April 20 of the attack vectors. General Bytes has released patches for the back-end system, but some fixes may require hardware revisions, Kraken said.
- Bitcoin ATMs allow users to buy bitcoin using fiat currency. General Bytes is the second-largest manufacturer of Bitcoin ATMs, representing 22.7% of the global market, according to information provider Coin ATM Radar.
- The model in question, the BATMtwo (GBBATM2), had several vulnerabilities, according to Kraken, including a default administrative QR code, the underlying Android operating software, the ATM’s management system and the machine’s hardware case.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.