4 men perform double spend attacks at Bitcoin ATMs netting $200k

posted 2 months ago
4 young men from Canada are wanted by Calgary police for executing double spend attacks at Bitcoin ATMs. The fraud is estimated to be valued at $200,000 and the investigation has been ongoing since October 2018.

Police believe 112 fraudulent transactions were made at Bitcoin kiosks in 7 cities across the country, with about half taking place in Calgary. Other targeted cities include Toronto, Montreal, Winnipeg, Ottawa and others. The ATM’s had given out money as soon as it detected a transaction, without waiting for confirmations, also known as zero confirmation.
Tags: blockchain, bitcoin, news