A business in downtown Lincoln has suffered a loss after a masked burglar broke into a bitcoin ATM in its premises and stole an unknown amount of cash. A review of the surveillance video from the building established that the thief got in by smashing a glass door at Haymarket’s The Mill Coffee and Tea shop. Officer Angela Sands said that the incident occurred at around 3.30 a.m on Thursday.

At the said bitcoin ATM, people can exchange cash for bitcoin or scan QR codes to exchange bitcoin for cash. The kioski is owned by Apha BTC based out in Omaha. The coffee house is located at Eighth and P streets.

This incident happens at a time when fraud and theft in the crypto world is on the rise. In this case, the break-in at the coffee shop that culminated into the theft from the bitcoin ATM puts to question the feasibility of such installations.

However, since the burglar had to actually break into the shop in order to access the ATM, it goes without saying that the thief managed to steal the cash mainly because he got access to the ATM inside the shop.

That shifts the focus from the feasibility of bitcoin ATM installations to the perceived security of their locations. With such valuable digital assets at risk, one would surely expect the locations to be optimally secured and enhanced in such a way as to make it hard for such break-ins to happen.

But it’s no doubt that the rise in value of digital assets as compared to fiat currencies has been one of the major factors fueling incidents of fraud and theft in the crypto world. However, theft and fraud aren’t the only negatives plaguing the crypto community. In the recent past, hackers have become a major threat.

There have cases of hackers targeting individuals and popular institutions with ransomware and demanding payments in bitcoin. Also, there have been reports of crypto exchanges being hacked and criminals stealing bitcoin and other digital assets.

As cryptos get more popular and probably get validated as fiat currencies, it’s pretty certain that relevant authorities and stake-holders will take more measures and develop better ways to stem the vice.

The post A Burglar Has Stolen Cash From A Bitcoin ATM In Downtown Lincoln appeared first on ZyCrypto.

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