Attempt to Steal Bitcoin ATM Goes Terribly Wrong in Canada

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Wed, 10/07/2020 - 18:42
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Alex Dovbnya
Canadian police are investigating a failed break-and-enter attempt to steal a Bitcoin ATM
Attempt to Steal Bitcoin ATM Goes Terribly Wrong in Canada
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On Wednesday, Oct. 7, two unidentified suspects attempted to steal a Bitcoin ATM in Kelowna, Canada, by plowing a pickup truck into the building of a local business, Vernon Morning Star reports

The criminals unsuccessfully tried to break inside at night before vanishing from the crime scene. The only reminder about their failed break-and-enter attempt was GMC Sierra’s tailgate and, of course, all the mess they’ve made.    

Nothing was taken

The exterior of the property has suffered extensive and expensive damage because of the incident, according to the Kelowna RCMP.

However, as a spokesperson for the local police department notes, nothing was actually taken, including the Bitcoin cash machine in question.

“A preliminary assessment conducted by staff on-site, suggests that despite the thousands of dollars in damage caused, nothing appears to be taken from inside the business as the suspects were unsuccessful in taking the Bitcoin ATM.”

It’s not clear whether the truck they used to gain entry into the building was a stolen vehicle.

Forensic investigators later appeared on the crime scene to collect necessary physical evidence.

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A magnet for criminals 

Bitcoin ATMs are a popular target for criminals. Back in January, two thieves broke into a store in Philadelphia and used crowbars to remove a cash box from a Bitcoin machine. Ironically, the two bandits ignored a conventional ATM that would bring them a much bigger loot. 

Given that ATMs are completely anonymous, they are also actively used to launder money, according to a 2018 Bloomberg report.

Nevertheless, the number of Bitcoin ATMs continues to grow, surpassing 10,000 machines last month.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.