Argenta Bank , based in Antwerp, Belgium , has been hit by a jackpotting attack. It is the first such attack in Belgium.
Jackpotting attacks are also known as logical attacks and are a particularly sophisticated and sophisticated type of fraud. Cybercriminals install malicious software and/or hardware on an ATM, which forces the machine to withdraw all the money it has inside.
The attack was named jackpotting because the way the ATM dispenses the money is similar to the way a slot machine operates when the player wins.
To carry out the attack, the malicious hacker must gain control of the ATM either by infecting the machine with USB (physical connection) or by installing malware online.
Argenta closed 143 ATMs over the weekend after two jackpotting attacks. Criminals attacked machines in the West Flanders communities of Roeslare and Ingelmunster on Friday and Saturday.
Last month, cybercriminals tried to take control of ATMs in Ranst and Borsbeek.
In both cases, the thieves are targeting some of the oldest machines in the network bank's. The ATMs, which were manufactured by Diebold, are said to be being replaced.
The bank has not confirmed how much money was stolen in the first wave of attacks. They also did not say whether the jackpotting attempts were completely successful.
Belgian federal police have launched an investigation into the Argenta ATM attacks. Officers believe the same criminal group is responsible for both attacks.
According to Christine Vermylen of Argenta, despite the upgrades that have been carried out, ATMs are still vulnerable. “That is why we have decided to close 143 ATMs of this type now, pending the installation of new machines later this year. We are looking into whether this process can be accelerated.”.
Jackpotting attacks have been occurring for several years in Europe and Asia. In 2018, such attacks were also detected in the US. According to The Brussels Times, security experts believe the Argenta attacks are the first of their kind in Belgium.
