BTC ATM robbery from Grayscale Bitcoin Trust in Barcelona

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Last weekend, in Sarria, thieves stole an entire Bitcoin ATM from the Grayscale Bitcoin Trust in Barcelona. It has been confirmed by the company on Twitter that they will be replacing all of their ATMs with new ones to ensure the safety of their clients. This is not only a major setback for Grayscale but also for cryptocurrency adoption since it showcases how volatile and dangerous this market can be.

The crime was committed at around 7 am and the thieves took off with an undisclosed amount of cash as well as two laptops, a tablet computer, and a router. It’s thought that they hacked into the database to get the codes for opening up the machine before making their escape. You can’t make it up! As long as there are people who want bitcoins badly enough, someone will be willing to take them by force or trickery – even if it means committing a robbery on a bitcoin bank machine. 

The cryptocurrency market continues to grow as more people find ways to invest in different coins and tokens. However, this growth brings along some problems such as hackers stealing funds from exchanges or wallets which makes investors lose money or even get hacked themselves. 

https://twitter.com/EnrichedFeed/status/1459467168937033730

1. The Grayscale Bitcoin Trust is a publicly-traded investment vehicle, based in the United States :

The Grayscale Bitcoin Trust is a publicly-traded investment vehicle, based in the United States. The fund tracks the price of bitcoin and mirrors its movements. This formula keeps the value of the trust locked to that of bitcoin without any need for buying and selling cryptocurrency on public markets. It has been criticized by some as being “too expensive” because it charges a 2% annual management fee, though if you bought bitcoins directly, you would be paying exactly that same 2% fee.

2. The Catalan police received a report of a crime that took place in Sarria : 

On Monday, Barcelona police received a report of a crime that took place in Sarria, in the weekend, a neighborhood of the Catalan capital. According to reports, a Grayscale Bitcoin Trust (GBTC) crypto ATM was stolen from a retailer’s premises. The crypto ATM is reported to have been found in an abandoned state with its crypto wallet still intact. A police investigation has been launched into the matter.

In 2017, crypto ATMs were introduced in Catalonia at various retail spots through one major crypto company that specializes in crypto exchanges and crypto POS systems called Coinay. Also known as Coin-O-Matic, Coinay provides retail locations with BTC/ETH/LTC crypto purchase options. They also supply these locations with their latest crypto payment.  

https://twitter.com/CryptosorSniper/status/1459642347424206853

3. Other crimes related to Bitcoin ATMs :

Bitcoin ATMs have been used in criminal activities for a long time now. The first successful robbery that involved an ATM happened as early as January 14, 2011. At that time, three individuals stole €600 from a cash machine at a gas station in Germany. The criminals pretended they were repairing the unit and then took it away with them once all the money was drained from inside.

In October 2017, another €100,000 was stolen from a Swiss bank using a computer virus installed on 10 different bank servers. The following month, hundreds of thousands of dollars were withdrawn from over 20 ATMs across Hong Kong within an hour.

The crime of stealing a Bitcoin ATM  has been on the rise in recent months. Thieves have targeted at least four different ATMs, all located in New York City and worth around $20K each. To combat this new threat to their business, Grayscale BTC has taken steps to install security cameras inside these machines for further protection. If you are looking into buying your machine or just want additional peace of mind when using them, be sure to ask about any safety features they may offer before making a purchase!

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Disclaimer: The views expressed in The Coin Times are solely those of the authors cited. It does not constitute The Coin Times recommendation to buy, sell, or hold any investment. Before making any financial decisions, it is recommended that you undertake your own research. Use the information supplied at your own risk. For additional information, please see the Disclaimer.

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