Bitcoin ATMs have become one of the biggest threats facing cryptocurrency

ChainCatcher news, according to CNBC, the number of Bitcoin ATMs is rapidly increasing in the United States, and some experts believe this has led to a growing threat of cybercrime. Bitcoin ATMs are similar to traditional cash ATMs: they require a PIN code and charge a withdrawal fee, just like other ATMs.

However, unlike cash ATMs, the high value of cryptocurrencies makes them a primary target for hackers. Therefore, while a cash ATM hidden between snacks and energy drinks at a gas station may not attract much attention, Bitcoin ATMs are subject to more scrutiny from criminals.

"Clearly, these machines are particularly vulnerable to physical and cyber threats, making them prime targets for hackers and thieves," said Timothy Bates, a cybersecurity professor at the University of Michigan's School of Information.

According to Frei, data shows that nearly 74% of ATMs worldwide are managed by 10 operators.

The largest Bitcoin ATM operator, Bitcoin Depot, operates over 8,000 ATMs. Its CEO, Brandon Mintz, stated that the company's machines are designed to prevent hacking attempts. However, he also questioned the claim that Bitcoin ATMs are a primary target for hackers.

"Because the hardware and Bitcoin wallet environment are separate, Bitcoin ATMs are generally not a high-priority target for cybercriminals," Mintz said. He also noted that Bitcoin Depot does not store any Bitcoin locally on its ATMs and that the company has multiple layers of verification and approval processes to prevent unauthorized access to Bitcoin Depot's wallets.

Additionally, Mintz pointed out that most Bitcoin ATMs (including Bitcoin Depot's ATMs) only accept cash, which eliminates the possibility of criminals using card readers on traditional cash ATMs. However, he also cautioned users to be vigilant against scams, as some basic protocols that protect consumers from traditional financial fraud also apply to the world of cryptocurrencies.