Bitcoin ATM manufacturer, General Bytes, has announced that it will be compensating its cloud-hosted customers who lost funds during a security breach that occurred in March.
The company confirmed that a hacker had gained access to sensitive information, including passwords, private keys, and funds from hot wallets on March 17 and 18.
The hacker was able to remotely upload a Java application into General Bytes’ terminals, which enabled them to steal at least 56 Bitcoin (worth over $1.5 million) and 21.82 Ether (worth $37,000) from the affected customers.
Action taken by General Bytes
General Bytes immediately took action to prevent further unauthorized access to its systems and released an incident report detailing the attack on March 23.
Since then, the company has been “working tirelessly” to improve its security measures to prevent similar incidents from happening in the future.
General Bytes confirmed that it has thoroughly assessed the damages caused by the hack and is now reimbursing its affected customers.
In a statement, the company expressed its commitment to protecting its customers’ funds and information.
It also warned other companies to be vigilant and proactive in securing their systems against potential cyberattacks. The security breach at General Bytes highlights the need for strong security measures to protect against the growing threat of cybercrime in the cryptocurrency industry.