The investigation revealed how hackers are targeting specific machines that are not equipped with the latest security measures.
Hackers are now attacking ATMs with weak security or the ones that run on outdated software to make them spit out a stream of cash until all of the resources are depleted.
One such heist was recently witnessed a bank employee in Germany’s Freiburg city. The employee had gone to an ATM to withdraw money, when the control panel of the machine displayed a strange greeting. It read: “Ho-ho-ho! Let’s make some cutlets today!”
It took the employee some time to realise what had happened, but by then the hackers had already planted malware in the machine. By the end of the malware attack, all the cash inside the machine was drained out of it.
This new method, which the hackers refer to as “jackpotting” attack, was uncovered by investigators in Germany. A joint investigation into the modus operandi was launched by Motherboard and a German news outlet.
The investigation revealed how hackers are targeting specific machines that are not equipped with the latest security measures. While authorities are yet to take cognizance of the practice and take necessary legal action, several other sources have also confirmed an increase in similar attacks across the world.
The entire procedure looks like a heist straight out of a Hollywood film and the primary cause of concern, in this case, is that the banks are vulnerable and mostly not equipped to tackle this yet says a report by BGR.The report by Motherboard says at the moment, the hackers are attacking ATMs across Europe using a Russian software code worth a meagre $1,000 whereby the malware is being installed in the machines through an access point, such as USB outlet.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.