At the time of compiling this article, the four suspects who are allegedly responsible for these fraudulent transactions have been identified but yet to be apprehended.
The attacks were carried out for 10 days in September of past year. The total amount generated by the scam is just over US$145,000.
In a space of 10 days (between September 16 and September 26, 2018) the team recorded a total of 112 fraudulent transactions made across seven cities in the country. The popularity of Bitcoin ATMs has exploded in recent years with many more units appearing worldwide - particularly in large United States cities.
Police say the suspects committed "double-spend attacks" in which they withdrew money from a bitcoin kiosk and then remotely cancelled the transactions before the withdrawal was processed. This essentially gave them the value of the deposit in both crypto and fiat. Though the identities of the perpetrators are not now known, the Calgary police are requesting the public's help in identifying them.
"Authorities believe the individuals have n-depth knowledge or interest in cryptocurrency, bitcoin and/or blockchain technology".
Each of the four suspects is accused of attacks in specific cities.
According to reports, each of the four suspected of defrauding Canadian Bitcoin ATMs targeted a different area. The remainder occurred in Toronto, Montreal, Ottawa, Hamilton, Winnipeg and Sherwood Park, Alta. The next two are thought to have targeted Calgary and Winnipeg respectively.
Bitcoin scheme suspect number three.
Agencies including the Toronto Police Service, Hamilton Police Service, Winnipeg Police Service and Halton Regional Police Service are assisting CPS.
People from any jurisdiction with information on the suspects are asked to contact the Calgary Police Service's non-emergency line at 403-266-1234, or they can submit tips anonymously through Crime Stoppers.
Featured Images from CPS and Shutterstock.