- Having obtained the credentials the operator Bitcoin-ATMs Bitcoin Depot, a hacker withdrew 50,9 BTC worth $3,7 million from the organization’s wallets.
- According to the company, insurance may cover the damage.
Operator Bitcoin-ATMs Bitcoin Depot lost 50,9 BTC worth almost $3,7 million. The hack was reported by statements to the US Securities and Exchange Commission. The document states that the hack occurred on March 23, when attackers gained unauthorized access to its internal IT systems.
The criminal obtained credentials associated with crypto accounts, allowing them to directly transfer funds from company-controlled wallets. As a result, the fraudster transferred bitcoins without permission and withdrew the assets from the system.
Following the discovery, the company immediately activated incident response protocols, engaged external cybersecurity experts, and notified law enforcement, the company said.
В Bitcoin Depot noted that the attack did not affect its platforms or customer data, but the investigation into the incident is ongoing. A company representative added that its insurance may cover losses related to the exploit, “but there is no guarantee that it will be sufficient to cover all losses.”
The company reported the hack at a time when regulators were already tightening their scrutiny. In March, Connecticut authorities suspended its license. Bitcoin Depot, accusing the organization of charging excessive fees, which resulted in 510 customers overpaying $150,426.
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