Stolen Bitcoin ATM Owners Suspect Memphis Robbery Was Inside Job
Tennessee-based BitKing LLC, a Bitcoin ATM provider who started operating last November with just one machine in downtown Memphis, has suffered their first burglary. After the story went viral on Reddit, CCN reached out to Sean Pezeshk, the company’s primary operator, for more information about the stolen machine.
The Bitcoin ATM Was The Target
The Bitcoin ATM was the thief’s only target, even though there were plenty of other luxury items in the store. | Source: Shutterstock
Pezeshk, who together with Josh Roberts runs BitKing, says that on a recent Tuesday night, the ATM, which is normally located at Railgarten on Central Avenue in Memphis, was hijacked. The ATM was the only target, even though the thief could have stolen expensive liquor and other items. The burglar stole the ATM shortly after the last employee left. BitKing believes they were watching the place closely.
It was located the next morning at a nearby dog park. Memphis police are investigating the robbery, but unfortunately, they don’t have much to go on. Obviously, fingerprints from the device would be inconclusive at trial – and they didn’t find many hits from that anyway.
The bar has a security system, but the ATM is located in an area where no cameras pointed. The bar’s glass door was broken in pursuit of the ATM. BitKing had no insurance on the device, but the manufacturer, General Bytes, is “super friendly,” Pezeshk said. The company is going to do its best to keep the repair costs low, but some parts are not made by General Bytes, such as the cash receiver.
