How secure are Bitcoin ATMs?

In recent times, the spotlight has shone brightly on Bitcoin ATMs, with in-depth analyses delving into their profitability and operational capacities. These machines represent not just a technological innovation but a new reality in the financial landscape and potentially a highly lucrative business sector. Charging fees ranging from 17% to 19%, with some even going as high as 20%, the question arises: How much cash can these machines hold, and just how secure are they? And maybe more importantly, what actually secures the cash operators have in the machines?

The actual parts in the Bitcoin ATM vary from manufacturer to manufacturer, and they all highlight the functionality. Yet, there remains a conspicuous absence of substantial discourse concerning the robustness and safety mechanisms embedded within these cash-handling systems.

Reports have emerged detailing incidents of nefarious actors breaching Bitcoin ATMs to abscond with cash stored inside of these machines. One notable incident occurred in Memphis in 2019, as well as in Brentwood, where daring individuals brazenly carted away an entire Bitcoin ATM from storefronts. These incidents highlighted vulnerabilities, particularly in smaller, lighter machines that could be whisked away effortlessly on foot.  

“He gets up to the machine and just gives a couple of wacs over to it, and the machine falls over,” said the store owner, adding -“It’s a hard labor, man, and when someone comes like that and ruins that for us, it sucks.”

Over the years, there have also been several reports of individuals robbing Bitcoin ATMs in broad daylight and from busy locations where stores are filled with people. A recent report from CBS accompanied by video footage depicts robbers accessing and emptying a different model of a Bitcoin ATM in under 30 seconds, vanishing into the crowds with the cash haul. Such incidents, while not uncommon, underscored the challenges posed by determined criminals breaching the machines and highlighted the vulnerabilities of these machines to theft. In the videos below, you can see two different Bitcoin ATM models produced by 2 different manufacturing companies being robbed. One thing they have in common is that they were both robbed in just under 30 seconds. 

The frequency of such news highlights the ongoing challenges faced by Bitcoin ATM operators in safeguarding their machines against determined thieves. Addressing these security gaps will be crucial in maintaining trust and confidence in the owners of Bitcoin ATMs within the cryptocurrency industry.

While reports of malicious actors breaking into Bitcoin ATMs and stealing cash have been prevalent, a contrasting tale emerged in 2021. In Texaco gas station in Atlanta, Georgia, a Bitcoin ATM potentially saved the life of a store owner during a robbery attempt. During the incident, robbers entered the store and targeted the cash register. However, the store owner found refuge behind the Bitcoin ATM manufactured by BTM company ChainBytes. When the robber fired a shot, the bullet struck the Bitcoin ATM, as recounted in a detailed report. The bullet penetrated the screen but was halted by the sturdy steel casing of the machine, leaving the store owner unharmed. Funny enough, the machine was repaired and placed back in operation in under 72 hours, continuing to serve the customers, further highlighting the resilience of some of these machines in diverse scenarios. 

Considering the robbery incidents involving Bitcoin ATMs, the question arises: are all Bitcoin ATMs made equal in terms of security?

The answer is a resounding no. Just as Tesla produces the Cybertruck, which reportedly can stop a bullet or repel robbers, while other vehicles like Ford or BMW may slow down such threats but not entirely stop them, the same analogy can be applied to Bitcoin ATMs and their security features.

Some Bitcoin ATM models may boast advanced security measures that significantly reduce the risk of theft or tampering, while others may offer more basic protections that may not be sufficient in high-risk scenarios. It’s essential for operators and users alike to carefully evaluate the security features of each Bitcoin ATM model to ensure they meet the desired level of protection and reliability.

Given the news reports and building on the insights gained from videos showcasing how easy it is to break in and rob cash from various manufacturers’ Bitcoin ATMs, we decided to put one of ChainBytes’ Bitcoin ATMs to the test. Specifically, we focused on their ChainBytes Universal Bitcoin ATM model. 

What we found was surprising: the level of security and difficulty in accessing the cash vault of this particular Bitcoin ATM manufacturer was remarkable. Compared to the ease with which other manufcturing brands were breached in previous news videos, attempting to open and steal money from the ChainBytes Universal Bitcoin ATM proved to be a challenging task.

To delve deeper into this discourse, a comprehensive test was conducted on a ChainBytes Universal Bitcoin ATM. This evaluation aimed to scrutinize the machine’s security features and resilience under duress. The initial impressions were nothing short of astonishment, as attempts to breach the ATM’s robust cash vault proved Herculean.

Constructed from cold-rolled steel, this ATM boasts a sturdy external casing that, once opened, reveals a resilient steel and metal internal vault secured with additional digital lock. Our attempts to breach this internal vault proved to be a formidable challenge. Even employing techniques observed in criminal exploits proved futile, with seasoned individuals and specialized tools unable to make significant headway into the impervious vault.

How to break into a Bitcoin ATM and steal the cash?

Following the methods observed in robbery videos, we initially attempted to armbar the vault. However, after a strenuous 30-minute effort involving the combined strength of two individuals, we barely made a dent in the vault’s defenses. This experience highlighted the exceptional security of the ChainBytes Universal Bitcoin ATM.
The realization dawned that under realistic conditions, with limited time and in a bustling store environment, breaking into this secure vault would be close to impossible.
The exceptional security of the Bitcoin ATM continued to astound us as we pushed the boundaries of our testing. Unlike other machines that succumbed to robbery attempts within 30 seconds, this ATM proved to be in a league of its own.

Since this ATM already did better than any competitor machine that had been broken into, we were determined to explore its resilience further. We created a scenario simulating an extended period for a potential robber to crack the vault. We created a setup simulating robbers entering the store during the night and having more time on their hands. 

We first removed the S&G lock in the hopes that by removing its head, we would make it easier to access the vault. But even with the lock removed, the safe remained impregnable. Our team brainstormed and experimented with various tools, including crowbars, in an attempt to breach the machine’s defenses. Time passed, and the machine was not giving us an inch. At this point, our team members, who are by all accounts a large “manly man” man took it as a challenge. Sleeves were rolled up, and brute force was applied and safe vas not bulging. 

With our own efforts exhausted, we turned to local locksmiths for assistance in opening the Bitcoin ATM. Despite their initial enthusiasm, each locksmith we contacted quickly realized the futility of attempting to pick the S&G lock mechanism and penetrate the thick vault casing. One after another, the locksmiths conceded that traditional lock-picking methods were ineffective against this advanced security system. They unanimously recommended drilling as the only viable option, acknowledging the impossibility of accessing the vault through conventional means or even with the expertise of seasoned lock-picking professionals.

With our determination unwavering, we embarked on a mission to dismantle the machine in an attempt to access and break into the vault. After painstakingly unscrewing what felt like an endless number of screws and breaking apart welded connections between the vault and the machine, we realized the sheer difficulty of removing the vault. It took significant time and two people just to move it a few feet from the machine, highlighting the technical expertise, noise, time, and manpower required to even consider stealing the vault. This level of complexity renders the machine an unattractive target for thieves. As we all know, there is no such thing as an impenetrable vault, but it’s important to make it hard for any thief to break in, so it’s simply not worth it. 

But with the vault now on the ground, we could attempt different techniques to open it. Despite our best efforts and the freedom to apply more force with crowbars and other tools, the vault remained steadfast. Our team’s frustration was palpable as we started placing bets on who could crack it open first, only to be met with the vault’s unyielding resilience. Hours of brainstorming, brute-force attempts, and one unfortunate colleague’s literal black eye later, we were forced to acknowledge defeat. The ChainBytes Universal Bitcoin ATM had bested even our most determined efforts, proving its superiority in security measures.

 After exhausting all conventional methods, we faced the reality that drilling through the thick steel vault was the only viable option to access the cash inside the ChainBytes Universal Bitcoin ATM. However, our initial attempts with standard drillers proved futile. Undeterred, we decided to acquire a specialized steel driller, which we hoped would finally break through the formidable casing. By this point, we were well into our fifth hour of relentless effort.

The process of drilling through the thick steel vault was no easy task. It took us considerable time and effort to make any progress. However, after persevering through the challenges, we finally succeeded in cutting through the incredibly resilient casing. Our persistence paid off as we were greeted with the sight of the Recycler that stored the cash, a testament to the impenetrable security of the ChainBytes Universal Bitcoin ATM.

In total, it took us over 8 hours of determined work to finally access the cash, underscoring the level of protection and security measures incorporated into this exceptional Bitcoin ATM model.

-“I hate this vault with passion now.” – Said one of the ChainBytes team members who spent hours trying to break into the machine.

The procurement manager, who collaborated closely with engineers during the construction of the ChainBytes machines, told us:
-During the construction process we prioritized security above all else. We spared no expense on materials, aiming to create a machine that would surpass all competitors in terms of security. Given that these machines handle cash, ensuring their security was our primary objective.

In conclusion, our exhaustive testing and efforts to breach the security of the ChainBytes Universal Bitcoin ATM have led us to a clear and resounding realization: this machine stands alone in its category when it comes to safety and security. Comparisons with other machines on the market simply do not do justice to the level of protection offered by ChainBytes.

For anyone prioritizing safety and security in their Bitcoin ATM investment, the choice is clear: ChainBytes Universal Bitcoin ATM is the machine you need. Its unmatched resilience against theft, its imperviousness to traditional lock-picking methods, and its formidable construction make it a standout choice for operators and users seeking peace of mind and utmost security in their cryptocurrency transactions.

In this article, we answer some of the most important questions regarding Bitcoin ATM safety as:

How do criminals break into Bitcoin ATMs?
How secure are Bitcoin ATMs?
How can you make your Bitcoin ATM more secure?
What is the most secure Bitcoin ATM on the market?
We also compare the times that it takes for criminals to break into different Bitcoin ATM models produced by different manufacturers and put to the test a ChainBytes Universal Bitcoin ATM.