Kraken a bitcoin exchange has warned the users about a potential hacking threats. The company has urged the BATMTwo ATM owners and operators to bring in the alterations to their QR code to remain safe against any sort of threat. Kraken Security Lab has argued that there are multiple Bitcoin ATMs that are unprotected against any sort of hacking attack.
The company via its blog addressed the people about the findings of the research conducted by the Kraken Security Labs team. The study explored the hardware and software-related vulnerabilities in many BATMTwo ATM range.
The study further revealed that there were multiple lope holes in the current administrative QR code. Multiple attack vectors were also present there. The android operating system, the ATM management system and even the hardware of the machine were found vulnerable to hackers.
The Kraken’s security team also said that incase any hacker gets access to the administrative QR code, he can have access to the ATM management system. The ATM’s boot management system is also weak.
Initially the company issued the statement about vulnerabilities to General Bytes on April, 20201. Later on, the company issues some patches to fix the security issues. However, these patches were not the required solution. The company recently said that hardware revisions are required in order to cope with these issues.
The group additionally found that it had the option to acquire full access to the Android management framework behind the BATMTwo ATM by essentially joining a USB code to the machine and cautioned that “anybody” could “introduce applications, duplicate records or direct other hazardous activities.”
General Bytes are based in the Czech Republic. As of this writing there are more than 6,391 General Bytes ATMs installed worldwide. The General Bytes ATMs represent the 22.7% share of the global bitcoin market. But this percentage also includes the BATMThree machines, which are not included in Kraken’s recent report.
As far as the location of these ATMs is concerned, the majority of these ATMs is located in the countries like U.S.A and Canada. U.S.A and Canada together have around 5,300 bitcoin ATMs. However, Europe has around 824 ATMs installed. Kraken has sent warnings to the operators that they must change the default QR amin code, upgrade the CAS server, and also place the cameras where the ATM machines are installed.
However, the actual number of cases of Bitcoin ATM hacks are pretty minimal. But in the past, there have been rumors about the possible hacking attacks on Bitcoin ATMs. But this time Kraken has talked about the technical aspects which can be exploited by the hackers. The current warnings seem more realistic.