Bitcoin ATM targeted by ram raid

Seven suspects have been arrested after an attempted ram raid of a Bitcoin ATM in Texas. The suspects used a stolen pickup truck and caused an estimated $10,000 in damage. This makes the Houston Police Department known.

Ram raid not successful

Last Friday morning around 6 a.m. local time, a group of seven individuals stole a pickup truck and rammed it into a Bitcoin ATM machine in Houston, Texas. The group did not manage to take the ATM machine with them. In their attempt, the suspects damaged a store, causing $10,000 in damage, according to its owner.

Why the suspects tried to steal the Bitcoin ATM is unclear. According to the ABC news channel, the suspects did not understand how a Bitcoin ATM works.

“The thieves were unsuccessful because Bitcoin is a digital currency. So there is no cash in the machines at all.”

While there was indeed no way the thieves could have stolen Bitcoin, there may have been cash in the machine. At a Bitcoin ATM, people can exchange cash for bitcoin (BTC). After entering money notes, you scan the code of your bitcoin wallet and then BTC is sent to your wallet.

Bitcoin ATMs worldwide

BTC ATMs have grown in popularity in recent years. They are used relatively often, especially in the United States. With nearly 30 thousand machines, approx 84 percent of all BTC ATMs in the US It’s not surprising if you haven’t seen one in the Netherlands yet. In the Netherlands there are only 21 pieces. In Belgium there is even only one.

Since the very first Bitcoin ATM was installed in 2013, the number of machines has increased every month steadily. However, this growth came to a halt in September last year. Then the number of ATMs decreased by 393 worldwide. In March, the number of machines even fell by almost four thousand units. The reason is probably disappointing earnings due to the BTC price. In May we again saw good growth: almost 1,400 machines were added.

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