General Bytes had a security problem on March 17th and 18th which allowed a hacker to get into their system remotely and take money from certain hot wallets. Because of this, lots of ATM’s in the United States that let you buy or sell cryptocurrency had to close down. The hacker was able to steal 56.28 bitcoins which is worth around $1.5 million collected from at least 15-20 ATMs all over the country.

Hacker Accesses Secret Codes on General Bytes ATMs

General Bytes is an incredibly popular company; they make the most cryptocurrency ATMs in the world totaling up to 9,505 machines around the globe, with a lot of them here in the United States. On Saturday, March 18th, General Bytes told everyone about a very serious security problem which must have happened one day earlier on March 17th.

At 4:42 p.m. on Saturday, the company asked all its customers to take tab immediately and keep their money as well as other personal information safe. They said this by providing a security bulletin which everyone needs to carefully read. According to Coin ATM Radar statistics, General Bytes ATMs are located in many places around the world.

General Bytes released a statement saying that a hacker was able to get control of the BATM user privileges and then access the database. The hacker could also read and steal secret codes used to transfer funds from hot wallets and exchanges. Moreover, they could extract people’s usernames, look at their passwords (which were scrambled up so nobody knew what it was), turn off extra layers of security, and even move money out of hot wallets.

CryptokenTop News recently talked to a person running cryptocurrency ATMs in the United States and they reported that all the ATM machines using General Bytes were switched off nationwide. Additionally, they said it could take some time to fix these ATMs as they would need to be rebuilt from the very beginning.

General Bytes is changing how crypto ATMs work and has said that they are no longer using their cloud service. They have done security checks to make sure everything is safe in 2021 and nothing bad was found.

Recently, a hacker stole approximately $1.5 million worth of bitcoin and lots of other digital currencies like Ethereum, USDT, BUSD, ADA, DAI, DOGE, SHIB and TRX from somewhere. The stolen bitcoin was stored in an address that has not been used since 3:20 a.m on March 18th. Some of the confiscated money was moved to various places while the remainder was sent to the Uniswap platform.

General Bytes had a problem on August 18th, 2022. Someone did something called a ‘zero-day attack’, and used it to add themselves as an admin user without permission using a link that comes with the server’s default installation.

On March 17 and 18, 2023, General Bytes was hacked. They revealed that the hacker used 3 addresses and had difficulty accessing funds as their system is ‘locked down’.

Let us talk about the General Bytes breach. Do you have any thoughts or comments that you would like to share on this? Share them here!


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