Čvn 10

EBTM Moves Antwerp’s Bitcoin ATM To A New Location

Source: bitcoin


Belgian Bitcoin enthusiasts rejoiced at the news about the first ATM being installed in the country over a year ago. Ever since that time, however, a lot of things have changed. After the Coffeelabs owners had decided to remove the device, EBTM had to provide a new home for the ATM. That new home is known as Pizzeria Leonardo da Vinci.

Also read: US Banking Regulators Warn About Imminent Swift Breaches

Operating a Bitcoin ATM is often underestimated by most cryptocurrency enthusiasts. When the location owners decide to remove the device from their premises, a new set of challenges arises. In the case of the former Coffeelabs ATM, that challenge came in the form of finding a new place to run the device from.

EBTM Bitcoin ATM Finds A New Home

After searching around for some time, EBTM managed to come to an agreement with pizzeria Leonardo da Vinci in Antwerp. But there is more to this partnership between EBTM and the pizzeria, as customers will soon be able to pay for their meals with Bitcoin as well. Additional use cases for Bitcoin as a currency are always a positive thing.

Both parties are collaborating on a way to accept Bitcoin payments at the Leonardo da Vinci pizzeria as we speak. Setting up a Bitcoin merchant account has become relatively easy, but there is a decision to make on whether or not funds is kept in BTC or converted to Euro.

Despite the hardship EBTM faced, the Belgian company remains a firm believer in the future success of Bitcoin in the country. Having to move away from the original Bitcoin ATM location is a setback, but Arnaud Kodeck has been working tirelessly on ensuring the device would find a new home.

The city of Antwerp remains a prominent place for Bitcoin enthusiasts, albeit the adoption rate of cryptocurrency throughout Belgium remains relatively small. That being said, the Bitcoin ATM in Antwerp, combined with efforts such as Ghent Bitcoincity and Ieper Bitcoinstad, show there is a demand for cryptocurrency as a form of payment.

Readers who are interested in checking out the new location of the EBTM Bitcoin ATM can head over to Breydelstraat 28 in 2018 Antwerpen.The EBTM machine was brought back to life on the evening of June 9, 2016, and lets users exchange Euro to Bitcoin at a 5% fee.

What are your thoughts on EBTM and the Belgian Bitcoin market? Let us know in the comments below!

Source: News Tip Via Email

Images courtesy of EBTM, Shutterstock

The post EBTM Moves Antwerp’s Bitcoin ATM To A New Location appeared first on Bitcoinist.net.

EBTM Moves Antwerp’s Bitcoin ATM To A New Location

Úno 09

Bitcoin ATMs Remain Safe From New Metel Bank Malware

Source: bitcoin

Bitcoinist_Bank ATM

Despite there being plenty of things going wrong in the financial sector, one of the biggest threats is not coming from the banks or other financial players themselves. Instead, a new breed of bank malware is making the rounds, spread by a Russian hacking group. Especially ATMs are the target of choice, and the implications could be very severe if no solution is found to counter this threat.

Also read: Tendermint to Unveil UI, Demo First Blockchain Apps

Bank Malware Remains A Big Threat

Throughout 2015, ransomware and malware have been claiming many victims around the world. But in the end, banks themselves remain the prime target for hackers, or to be more precise their ATM devices. A new type of malware has been identified, which could be a major threat to ATMs all over the world.

Based on the information provided by Kaspersky Labs, Metel malware was discovered during the summer of 2015. This situation came to light as a Russian bank reported millions of rubles in losses in one night. Apparently, the institution had a log of strange financial transactions originating from one of their ATMs.

What makes this story even stranger is how an internal investigation showed how cards belonging to customers of this particular Russian bank were withdrawing funds from other bank’s ATMs. Huge amounts of money were cashed out, even though the associated bank accounts of the card holders remained unaffected. Needless to say, this made absolutely no sense whatsoever.

It is not the first time Metel makes a name for itself in the world of traditional finance. This collective of Russian hackers is deliberately infected corporate bank networks via email, in an attempt to gain access to other internal systems. As a result, Metel managed to gain access to the bank’s ATM withdrawal system, which let them roll back the entire history of cashing out the device’s balance.

Further research by Kaspersky showed how the malware was present in over 30 financial institutions, although all of the networks have been cleaned up in the meantime. At the same time, another collective of Russian hackers has been identified, using similar techniques to infect banks with malware.

If that wasn’t bad enough, the Carbanak malware has been revamped and is making the rounds again as well. Rather than targeting banks, this malware is also trying to find vulnerabilities in accounting and budgeting departments of other companies. The financial world as we know it is facing a lot of threats all over the world, including Bitcoin and digital currency.

Bitcoin ATMs Remain Safe From Malware

Unlike traditional bank ATMs, malware has not been spreading throughout Bitcoin ATMs around the world. Not only does this bring more legitimacy to the popular digital currency, but it also goes to show that financial institutions could learn a few things from the Bitcoin ecosystem, other than how to use blockchain technology to their advantage.

Furthermore, the popular digital currency is gaining more attention from all over the world, while its market value is holding steady. With fiat currencies dropping in value on a regular basis and proving to be very volatile, Bitcoin is proving to be a far more stable investment compared to traditional means.

What are your thoughts on this new type of bank malware? Are Bitcoin ATMs vulnerable as well? Let us know in the comments below!

Source: Kaspersky Blog

Images courtesy of Shutterstock, Krebsonsecurity

The post Bitcoin ATMs Remain Safe From New Metel Bank Malware appeared first on Bitcoinist.net.

Bitcoin ATMs Remain Safe From New Metel Bank Malware