The FBI has expressed serious concern over a significant increase in ATM jackpotting attacks across the United States. In 2025, more than 700 such incidents were reported nationwide, resulting in losses exceeding $20 million in cash. These attacks involve criminals gaining physical access to ATM machines and installing specialized malware that forces the machines to dispense cash without bank authorization. Federal authorities have arrested 93 individuals involved in these crimes, many of whom are linked to a gang based in Venezuela. Experts warn that this group is employing advanced technical methods to compromise ATM security and steal millions of dollars. Banks have been urged to implement stringent security measures to counter this growing threat. ATM jackpotting is a sophisticated form of cybercrime where hackers manipulate the internal software or hardware of ATMs to forcibly withdraw money, causing not only financial losses but also eroding consumer trust. To prevent such attacks, the banking sector must adopt modern security technologies and enforce rigorous monitoring. Without immediate and effective protective actions by bank management and government agencies, the frequency of these attacks is expected to rise. Consumers are also advised to exercise caution when using ATMs and promptly report any suspicious activity to relevant authorities to avoid financial loss.
Source: binance
