• Advertise
  • Submit a Press Release
  • Contact Us
Blockchain & Cryptocurrencies Tabloid
  • Finance & Blockchain News
  • Bitcoin News
    Michael Saylor Predicts Bitcoin Could Hit $150,000 by 2025

    Michael Saylor Predicts Bitcoin Could Hit $150,000 by 2025

    Kazakhstan President Initiates Strategic Bitcoin Reserve Plan

    Kazakhstan President Initiates Strategic Bitcoin Reserve Plan

    South Africa's Altvest Capital Rebrands, Aims to Raise $210M for Bitcoin

    South Africa’s Altvest Capital Rebrands, Aims to Raise $210M for Bitcoin

    El Salvador Purchases 21 Bitcoin for Bitcoin Law Anniversary

    El Salvador Purchases 21 Bitcoin for Bitcoin Law Anniversary

    El Salvador Marks Bitcoin Law Anniversary with BTC Purchase

    El Salvador Marks Bitcoin Law Anniversary with BTC Purchase

    Tether CEO Denies Bitcoin Sale Rumors

    Tether CEO Paolo Ardoino Denies Bitcoin Sale Rumors

  • Altcoin News
    • All
    • Bitcoin Cash
    • Cardano
    • EOS
    • Ethereum
    • Litecoin
    • Monero
    • Ripple
    • Stellar
    Forward Industries' $1.65 Billion Investment in Solana

    Forward Industries Initiates $1.65 Billion Solana Investment

    Eightco Holdings Adopts Worldcoin, Shares Surge by 1000%

    Eightco Holdings Adopts Worldcoin, Shares Surge by 1000%

    Pi Coin Price Dynamics: Targeting $1.20

    Pi Coin Targets $1.20 Amid Protocol Upgrade Momentum

    Nemo Protocol Hacked for $2.4 Million USDC

    Nemo Protocol Hacked for $2.4 Million USDC

    US SEC Delays Canary and Grayscale ETF Decisions

    US SEC Delays Canary and Grayscale ETF Decisions

    BlackRock Sells $300 Million in Ethereum

    BlackRock Sells $300 Million in Ethereum

    Trending Tags

    • Ethereum
    • Bitcoin Cash
    • Litecoin
    • Monero
    • Ripple
  • Crypto 101
    • All
    • Cryptocurrencies
    • Exchanges
    • Services
    • Wallets
    Benefits Of Choosing the Right AI Trading Bot

    4 Benefits Of Choosing the Right AI Trading Bot

    Crypto Trading

    A Beginner’s Guide to Crypto Trading: Unlocking the World of Digital Coins

    BitcoinGames.com

    BitcoinGames.com Introduces the Ultimate Casino Gaming Experience with Bitcoin

    How AI is Helping Athletes and Fans Get the Most out of the Game

    From Training to Judging, AI is Entering the Ring

    Top 5 Websites for Buying Gift Cards with Crypto

    Clutch Savours – Gift Certificates You Can Buy with Crypto

    Layer 2 Blockchains

    Everything You Need To Know About Layer 2 Blockchains

  • Blockchain Events
No Result
View All Result
Blockchain & Cryptocurrencies Tabloid
No Result
View All Result

Suspects Wanted in Bitcoin ATM Double-Spending Scam

Anca F. by Anca F.
March 13, 2019
in Bitcoin News, Latest News
Bitcoin double spending

Four scammers wanted for conducting double spending attacks in Bitcoin ATMs from major cities in Canada. The criminals managed to steal bitcoin worth of $200,000.

Four Canadian men are wanted by the police for double-spending attacks on Bitcoin ATMs. The attacks took place in 7 cities across Canada, half of them taking place in Calgary.  The attacks in this particular city were conducted over a span of ten days in September 2018.

Other cities that were attacked are Winnipeg, Toronto, Montreal, Sherwood Park, Ottawa, and Hamilton.

Calgary police began its investigations in October after the swindled Bitcoin ATM company alerted them of the issue. Each suspect operated in a different city.

The photos of the men have been released online, and the police are asking for public assistance to identify them. All pertinent information regarding the suspects can be anonymously submitted to the police.

These guys double spent BTC at ATMs using Replace by Fee. Stole over $200,000 over 112 transactions.

Samson is right, BTC is no longer a payments system. https://t.co/qasEv8tMf8

— Collin Enstad (@CollinEnstad) March 13, 2019

The men succeeded in their theft because they exploited the Bitcoin ATMs’ zero-confirmation transactions to double-spend Bitcoin in exchange for money. They conducted a total of 112 transactions, gathering a sum of $200,000. The average withdrawal was approximately $1800.

Canadian Bitcoin Core developer Peter Todd’s replace-by-fee tools are what made these transactions possible. While it was not designed to facilitate theft, the tool lets “stuck” transactions to become released for the cost of an extra fee. A “double spend” tool is incorporated in the kit, which according to Todd:

“Creates two transactions in succession. The first pays the specified amount to the specified address. The second double-spends that transaction with a transaction with higher fees, paying only the change address. In addition, you can optionally specify that the first transaction additional OP-RETURN, multisig, and “blacklisted” address outputs. Some miners won’t accept transactions with these output types; those miners will accept the second double-spend transaction, helping you achieve a successful double-spend.”

Calgary police, in collaboration with Ontario and Manitoba authorities, acquired CCTV images featuring the suspects which are thought to “have in-depth knowledge or interest in cryptocurrency, bitcoin and/or blockchain technology”.

Calgary is home to a total number of 45 Bitcoin ATMs, but only 21 of them support Bitcoin sales. These ATMs are owned by several companies including Bitnational, Bitcoin Solutions, and Bitcoiniacs, with some of them having daily sales limit of up to $9000.

Top #bitcoin ATM manufacturers w/r/t installations in February 2019 @generalbytes +49 / 3.7%, @genesiscoin +20 / 1.4%, @LamassuBTC +10 / 2.3%, #ShitcoinsClub +7 / 18.9%, #OrderbobATM +6 / 5.9%, @Bitaccess +3 / 1.2%, @Coin_Source +3 / 1.6% https://t.co/cJCE3hNbXf pic.twitter.com/XbPfhbeuXv

— Coin ??? Radar ₿?? (@CoinATMRadar) March 12, 2019

None of these companies confirmed if they allow for 0-confirmation transactions or not.

The news generated controversy regarding Bitcoin’s replace-by-fee (RBF) which enables the re-sending of unconfirmed transactions in exchange for a higher fee. Many believe that this feature can be used to conduct double-spending attacks. While it is not required to have RBF to double-spend, the feature enables even non-tech users to pull off a scam.

Featured Image: cryptocurrencynews

Tags: bitcoin ATM scamBitcoin ATMs canadaBitcoin Double Spending
Previous Post

BestMixer.io’s Fastest Bitcoin Mixer Creates a Path Toward Crypto Anonymity

Next Post

1xBit: Online Sports Betting for Crypto Owners

Anca F.

Anca F.

Related Posts

Michael Saylor Predicts Bitcoin Could Hit $150,000 by 2025

Michael Saylor Predicts Bitcoin Could Hit $150,000 by 2025

by Solomon M.
September 8, 2025

Michael Saylor forecasts Bitcoin will reach $150,000 by 2025, driven by whale activity.

Kazakhstan President Initiates Strategic Bitcoin Reserve Plan

Kazakhstan President Initiates Strategic Bitcoin Reserve Plan

by Solomon M.
September 8, 2025

Kazakhstan's President has directed the creation of a strategic Bitcoin reserve, shaping national digital asset policy.

South Africa's Altvest Capital Rebrands, Aims to Raise $210M for Bitcoin

South Africa’s Altvest Capital Rebrands, Aims to Raise $210M for Bitcoin

by Solomon M.
September 8, 2025

Altvest Capital plans to rebrand as Africa Bitcoin Corp and raise $210M for Bitcoin acquisition, led by CEO Warren Wheatley.

El Salvador Purchases 21 Bitcoin for Bitcoin Law Anniversary

El Salvador Purchases 21 Bitcoin for Bitcoin Law Anniversary

by Joshua T.
September 8, 2025

El Salvador celebrates Bitcoin law's anniversary with 21 BTC purchase, marking continued commitment.

El Salvador Marks Bitcoin Law Anniversary with BTC Purchase

El Salvador Marks Bitcoin Law Anniversary with BTC Purchase

by Adriana M.
September 8, 2025

El Salvador purchases $2.3 million in Bitcoin to celebrate fourth anniversary of Bitcoin Law.

Tether CEO Denies Bitcoin Sale Rumors

Tether CEO Paolo Ardoino Denies Bitcoin Sale Rumors

by Solomon M.
September 8, 2025

Paolo Ardoino refutes claims of Tether selling Bitcoin for gold, affirming multi-asset reserves.

We Recommend

Top Rated Casinos
Bitstarz Casino

BitcoinCasino.io
Top Crypto Betting
1xBit.com
Top Rated Exchanges
Binance Exchange

Bityard.com
Top Advertising Services
Coinzilla Display Network
Top Crypto Wallets
Ledger Nano X

  • Terms and Conditions
  • Privacy Policy
  • Advertise
  • About Us
  • Contact Us

© 2018-2019 theccpress.com by Brantell Media.

No Result
View All Result
  • Finance & Blockchain News
  • Bitcoin News
  • Altcoin News
  • Crypto 101
  • Blockchain Events

© 2018 - 2019 theccpress.com, a Brantell Media project.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.