Digital Banking

Bitcoin ATM thieves stole $30K, apprehended by Hong Kong authorities

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August 17, 2020

Three men have been taken into custody in Hong Kong for allegedly stealing $226,000 (U.S. $30,000) in Hong Kong dollars from six Bitcoin ATMs. The cash was stolen over a two-day, 11-transaction period, according to a report in the South China Morning Post.

Two crypto exchanges contacted authorities on what they believed was criminal activity after seeing three men manipulate the machines to expel cash.

Following the arrest, Wilson Tam, superintendent of Hong Kong's cyber security and technology crime bureau, chose not to discuss the methods the trio used to obtain the cash for security reasons, but statef the men are believed to be part of a larger criminal operation.

"It is the first time we came across fraud linked to bitcoin ATMs," Tam told the news outlet.