Latest news with #BitcoinATM
CTV News
3 days ago
- CTV News
Fort St. John RCMP warn of rise in crypto scams targeting employees
A Bitcoin ATM was used to deposit funds scammed out of an employee in Fort St. John. Police in Fort St. John are warning the public not to fall for a new cryptocurrency scam targeting workers. The warning comes after an employee of a store was scammed out of $900 after being targeted by someone pretending to be their boss. According to the Fort St. John RCMP, the scammer told the employee the cash was needed to pay for the delivery of a package for the business, convincing them to deposit the total into a Bitcoin ATM July 31. By the time the employee realized the call had been fake, the money had already been converted into Bitcoin and deposited into the fraudster's crypto wallet. 'Legitimate businesses are not going to ask you to pay for items or services with cryptocurrencies,' said Const. Christiaan Dreyer. 'Once your money is converted into Bitcoin, for example, and sent to a fraudster's crypto wallet, there's an extremely low chance of tracing the money and next to no chance of recovering it.' There have been 'several similar incidents' in the region in recent months, police said. Anyone who is contacted by someone purporting to be their boss or a fellow staff member and feels something is off should hang up and call a manager using a trusted phone number, the RCMP said.
Globe and Mail
05-08-2025
- Business
- Globe and Mail
Bullet Blockchain Announces Strategic Initiatives to Accelerate Growth and Cement Market Leadership
LAS VEGAS, Aug. 05, 2025 (GLOBE NEWSWIRE) -- Bullet Blockchain, Inc. (OTC: BULT) ('Bullet Blockchain' or the 'Company'), the only U.S. company holding foundational patents for Bitcoin ATMs and one of only three publicly traded Bitcoin ATM network owner/operators, today announced a series of key strategic initiatives that management is pursuing to drive an aggressive expansion and align current and future stakeholders with the Company's long-term vision. 'We have a clear strategy to capitalize on the explosive growth of the crypto ATM market,' said Simon Rubin, CEO of Bullet Blockchain. 'Our primary focus is on four core pillars: (i) Expanding our operational footprint; (ii) Strengthening our leadership and governance; (iii) Securing the strategic capital necessary to fuel this growth; and, (iv) Forging strategic alliances for enhanced security and utility. 'These initiatives are designed to build a powerful foundation for Bullet Blockchain's future and reinforce our position as an industry innovator.' The first of these pillars is focused on a multi-pronged approach to scaling the Company's physical presence and network capacity. Expanding Our Operational Footprint Bullet Blockchain is actively pursuing opportunities to dramatically accelerate the deployment of its Bitcoin ATM network (a/k/a/ 'crypto ATM network'). Building on a successful start, the company is now focused on a multi-pronged approach to scaling its operations. This includes exploring opportunities to acquire and deploy a significant number of new and refurbished crypto kiosks from both manufacturers and operators. In tandem with this effort, management is in active discussions with a number of regional and national retail operators, including convenience stores and gas station chains, to secure distribution agreements. Such agreements would support a more rapid and strategic rollout of the Company's network, with the potential to significantly expand Bullet's presence across the country. The Company is committed to upholding the highest standards of corporate governance, intellectual property protection, and market compliance. To support these imperatives, Bullet Blockchain is actively engaging with highly qualified individuals to enhance its executive team and Board of Directors. This includes seeking out specialists in intellectual property to advise on strategies for enforcing and leveraging the company's foundational patents, as well as interviewing qualified candidates to join the Board. Further, management is actively seeking to engage new auditing firms with the intent of fast-tracking important compliance initiatives, signaling a clear path towards increased transparency and market status. To execute its aggressive growth plan, Bullet Blockchain is strategically pursuing a number of capital formation opportunities. This includes sourcing low-cost credit facilities, short-term loans, and traditional equity financing. The company is also evaluating the creation of a Strategic Bitcoin Treasury program to leverage future crypto acquisitions. Through these efforts, management has identified significant plausible capital resources to support its operations and fuel future growth. Bullet Blockchain is actively building a comprehensive, secure, and user-centric ecosystem through strategic partnerships. These alliances are focused primarily on two endeavors. One is focused on enhancing the customer experience by providing advanced security solutions for digital assets and crypto wallets. The other is facilitating new use cases such as efficient international remittances and developing new technology offerings that create greater visibility and secondary revenue streams. These initiatives position the company not just as a Bitcoin ATM operator, but as a holistic provider of modern crypto-financial services, ultimately transforming the crypto kiosk from a single-purpose device into a multi-faceted hub for digital finance and commerce. Building on a Vision of Proven Execution These initiatives collectively form the framework for Bullet Blockchain's strategy to move from intent to execution. With its foundational patents [Nos. US9135787B1 & US10332205B1 ], and a clear roadmap for growth, management is confident in the Company's ability to generate significant value for stakeholders while establishing Bullet Blockchain as a trusted and innovative, global leader, in the crypto ATM market—intricately intertwined in the overall fabric of digital financial services and fintech. Mr. Rubin, concluded, 'Our comprehensive strategy is built on a foundation of tangible pillars, not just ambition. We are committed to moving from strategic intent to proven execution, and we are confident that our roadmap will not only generate significant long-term value, but will also establish Bullet Blockchain as the definitive leader in both the traditional capital markets and digital financial services space.' Bullet Blockchain's Intellectual Property As previously announced, Bullet Blockchain acquired First Bitcoin Capital LLC, gaining ownership of an intellectual property portfolio that includes two Bitcoin ATM patents. By virtue of its subsidiary, First Bitcoin Capital LLC, Bullet Blockchain holds the exclusive rights to U.S. Patent Nos. US9135787B1 ('Bitcoin kiosk/ATM device and system integrating enrollment protocol and method of using the same') and US10332205B1 ('Bitcoin kiosk/ATM device and system and method of using the same'). These patents remain critical technologies for the operation and security of Bitcoin ATMs and their networks. Bullet Blockchain continues to advance its licensing initiatives, offering operators and manufacturers a variety of partnership models including transaction-based fees and revenue-sharing opportunities centered around its intellectual property. About Bullet Blockchain Headquartered in Las Vegas, Nevada, Bullet Blockchain Inc. – common stock is publicly traded on the OTC Markets under the symbol (BULT) – is a diversified software development and BaaS company, specializing in blockchain technologies and Web 3.0, and though its wholly owned subsidiary, First Bitcoin Capital LLC, the owner and licensor of two Bitcoin ATM patents. Bullet Blockchain's Bitcoin ATMs are operated by licensed third-party operators within the jurisdictions in which they reside. Bullet Blockchain is committed to driving the innovations needed to shape the future of digital and blockchain-related platforms through digital technology and decentralized blockchain solutions. Management is dedicated to rapid growth and increasing the shareholders' value. Shareholders, potential investors, and others should note that we announce material events and material financial information to our shareholders and the public using our website and the social media addresses listed below, as well as in our OTC Markets' disclosures, press releases, public conference calls, and webcasts. We also use social media to communicate with our email subscribers and the public about Bullet Blockchain, services, and other related information. It is possible that the information we post on social media could be deemed to be material information. Therefore, we encourage shareholders, the media, and others interested in Bullet Blockchain to review the information we post on Bullet Blockchain's social media channels listed below. This list may be updated from time to time. For investor and general information, please email contact@ Find investor and general information at Forward-Looking Statements: Statements in this press release that are not statements of historical or current fact constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown factors that could cause the Company's actual operating results to be materially different from any historical results or from any future results expressed or implied by such forward-looking statements. In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors, including (without limitation) general industry and market conditions and growth rates, economic conditions, and governmental and public policy changes. The forward-looking statements included in this press release represent the Company's views as of the date of this press release, and these views could change at some point in the future. However, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of the press release. In addition to statements that explicitly describe these risks and uncertainties, readers are urged to consider statements that contain terms such as "believes," "belief," "expects," "expect," "intend,' 'anticipate,' 'anticipates,' 'plans," "plans," "plan," to be uncertain and forward-looking.
Yahoo
30-06-2025
- Yahoo
Authorities saw open Bitcoin ATM to recover scammed money — almost $32,000 seized from machine
When you buy through links on our articles, Future and its syndication partners may earn a commission. The Sheriff in Jasper County, Texas, located a little over 100 miles northeast of Houston, used a circular saw to break into a Bitcoin ATM after determining it was used for fraud. According to a Facebook post from the Sheriff's office, a county constituent was defrauded of $25,000 on a crypto scam, which they deposited into the machine. After securing the necessary warrants, the investigators broke open the Bitcoin ATM and seized $31,900 found inside it. Many elderly Americans are being targeted by online scammers. Fraudsters primarily use cash gift cards to circumvent the protections many financial institutions have in place to prevent activities like these. However, the advent of crypto ATMs, like the Bitcoin Depot ATM used in this incident, has made it cheaper and easier for perpetrators to access their stolen funds. The decentralized and anonymized nature of cryptocurrency has made it more difficult for the authorities to trace these transactions, and its global availability means that cross-border transactions do not require identification. According to the FBI, elderly Americans lost $107 million in scams in 2024 through crypto ATMs. Unfortunately, Bitcoin Depot seems to be a victim of this scam. After all, it converts cash to Bitcoin and only acts as a money transmitter or money services business. It also claims to proactively employ robust compliance, AML, and KYC protocols. That means the company and its franchisee, if the affected machine is owned by one, are on the hook (at least for now) for the damaged ATM and the seized contents. Bitcoin Depot told Decrypt that it 'regularly collaborates with investigators to clarify when recovery may be possible' and 'such efforts typically involve the receiving wallet provider or exchange, not the kiosk itself.' They also said, 'We actively support and educate law enforcement agencies, particularly those less familiar with cryptocurrencies. Even though the authorities have already recovered the cash from the ATM, it doesn't mean the victim will get their money back. They must first go through legal means so that the authorities can issue an order to seize the stolen funds. From there, their only hope is that the attacker made a mistake and used an exchange that cooperates with the authorities. Nevertheless, it's not impossible—for example, the U.S. Department of Justice recovered $2.3 million in Bitcoin paid as ransom in the Colonial Pipeline attack. Still, it will be a harrowing journey for the victims to reclaim their money—if they're able to recover it at all. Follow Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button.
Yahoo
30-06-2025
- Business
- Yahoo
Bitcoin firm says police shouldn't saw open Bitcoin ATMs to seize cash for scammed customers, will seek damages for destroyed machines — firm claims seizures are criminal and victimize the company
When you buy through links on our articles, Future and its syndication partners may earn a commission. Bitcoin Depot Chief Legal Officer, Chris Ryan, said that police departments using brute force to open Bitcoin ATMs and seize the cash inside is bordering on law enforcement overreach. Sawing them open might even be breaking banking and criminal laws, added Ryan. The executive told Decrypt that the money inside Bitcoin Depot ATMs rightfully belongs to the company, and that any damage to its machines will be held against the offending organization. 'You've got these rogue law enforcement officers thinking that they're doing the right things by these consumers,' Ryan said. 'What they're actually doing is creating another victim, which is us, with the damage of our property and seizing of our funds.' Just last week, the Jasper County Sheriff broke into a Bitcoin Depot ATM after one of its constituents reported getting scammed out of $25,000. Although the victim went through proper channels, and they were able to secure a search warrant, the money inside the ATM is legally no longer the property of the victim. Instead, the authorities should be going after the wallet address where the cryptocurrency was deposited. Because the Sheriff used a power tool to break open the ATM to get its contents, Bitcoin Depot said that its machine — which cost $14,000 each — was completely totaled. This is particularly unfortunate because the company said that it always cooperates with law enforcement and will open the machine for them when going through the proper channels. Requests like this happen up to 20 times a year, Ryan said to Decrypt, and that doesn't even include cases where the police just straight up break their machines open. As for the latter, the company would charge the jurisdiction for the damage — something many can't afford. Crypto ATMs are similar to regular deposit machines, wherein they accept cash and credit the same amount to your bank account. But instead of going into your account, it would instead go into your nominated wallet address. Depositors that use the machine are required to confirm that they're depositing the money into their own wallets, and it even warns users using third-party addresses that they might be getting scammed. So, if someone was scammed out of their cash with a regular deposit machine, the police would not break the ATM — instead, they would coordinate with the courts and the bank to freeze the account and potentially get the money back. This should be the same pathway that victims should take when scammed through crypto. Unfortunately, many people, including law enforcement and the courts themselves, do not understand how crypto works. Because of that, we get incidents like these where police forcibly open crypto ATMs, causing damage to a third party's property. While Bitcoin Depot and other similar operations are legitimate, they're often used by scammers because of how fast and easy it is for them to get the stolen funds. Even though you can easily track crypto transactions due to the public nature of the ledger, getting them back is often difficult because of anonymity. Moreover, if the scammer does not use an exchange that works with the authorities, it's difficult, often nearly impossible, to get the money back. Because of these attributes, scammers are increasingly switching from gift cards to Bitcoin ATMs. Follow Tom's Hardware on Google News to get our up-to-date news, analysis, and reviews in your feeds. Make sure to click the Follow button. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
05-06-2025
- Business
- Bloomberg
Bitcoin ATM Operator CoinFlip to Explore Sale
CoinFlip, an operator of a global network Bitcoin ATMs, is in the early stages of weighing a sale as dealmaking in the cryptocurrency space heats up, people familiar with the matter said. The Chicago-based company is working with a financial adviser to seek a buyer, according to the people. CoinFlip is considering seeking at least $1 billion in the sale, though it's unclear if it will be able to achieve that valuation, the people said.
