Bitcoin ATM Scam - Attention! Check the public address!

CryptoLocalATM has warned of a scam observed on its machines in Italy. These allow users to purchase BTC in euros and transfer cryptocurrencies to their wallet by scanning a QR code.

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1 Bitcoin ATM Scam – Attention! Check the public address!

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As CryptoLocalATM reveals, a Bitcoin scam has appeared at the ATM. The scams were equipped with special two-sided stickers designed to redirect the withdrawn BTC to their public address, instead of the one belonging to the users.

These stickers are placed on the camera or on the ATM QR code scanner and show on the user’s side the words “scan here” and a QR code with watermark.

In fact, on the side registered by the ATM scanner there is a QR code of a public address belonging to the scammers. In this way, the purchased cryptocurrencies will be redirected to the wrong address.

For example, the sticker displayed by cryptolocalatm.com shows the QR code of the public address 1JvHVnEsYsYsPo5SJfYfzVhMRoatmKE6ntS, which has so far received a single transaction worth 0.0868 BTC.

Bitcoin ATM Scam – Attention! Check the public address!

Unfortunately, Bitcoin transactions are not reversible, so users are warned to check the transaction carefully.

“Make sure the scanned address matches your address before confirming the transaction. After the QR scan, the ATM shows the alphanumeric string of the public address to which the BTC will be sent, requesting confirmation of the submission before continuing the transaction “,

warns the CryptoLocalATM site.

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This is a procedure that should always be adopted before definitively confirming any cryptocurrency transaction.

Unsupervised ATMs are the most exposed to this type of scam, because the scam just has to attach a sticker to the scanner. For supervised ATMs this action is more difficult to perform. On the other hand, the solution to the problem is simply removing the sticker.

CryptoLocalATM operates six ATMs spread throughout Italy.