Criminal Double Spending Bitcoin ATM Users Wanted by Calgary Police Service

Criminal Double Spending Bitcoin ATM Users Wanted by Calgary Police Service

True, cyber attacks, especially through cryptocurrencies are common in just about any country; however, if there was a record keeper, this has got to be one of the worst hits so far.

According to the police profiling, one of the suspects has attacked in the Toronto, Montreal, Ottawa and Hamilton area, while the other took the Calgary area for the attacks.

Calgary police began its investigations in October after the swindled Bitcoin ATM company alerted them of the issue.

Each of the four suspects are accused of attacks in specific cities. Though the identities of the perpetrators are not now known, the Calgary police are requesting the public's help in identifying them.

Bitcoin scheme suspect number one.

The first suspect on their radar is believed to be the brain behind the attacks in Hamilton, Montreal, Ottawa, and Toronto; the second suspect is reportedly responsible for the 51 fraudulent transactions in Calgary; and suspects #3 and #4 allegedly responsible for the attacks in Winnipeg and Sherwood Park respectively.

While bitcoin double-spending is not much heard of, it is not completely impossible. The practice involves withdrawing money from a bitcoin kiosk and then cancelling the transaction remotely before the bitcoin company can process the withdrawal. While it was not created to facilitate theft, the tool lets "stuck" transactions to become released for the cost of an extra fee.

"Authorities believe the individuals have n-depth knowledge or interest in cryptocurrency, bitcoin and/or blockchain technology". In addition, you can optionally specify that the first transaction additional OP-RETURN, multisig, and "blacklisted" address outputs.

A number of policing agencies from across Canada took part in the cybercrime investigation and four suspects were identified. People can also anonymously submit tips through Crime Stoppers.

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

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