The jackpotting attacks are also known as logical attacks and is a highly sophisticated and complex type of fraud. The Criminals of cyberspace install malicious software and / or hardware at an ATM, which forces the machine to withdraw all the money it has inside.
The attack was called jackpotting because the way the ATM draws money is similar to the operation of a slot machine when the player wins.
To carry out the attack, the malicious hacker must gain control of the ATM by either infecting the machine with USB (physical connection) or by installing malware online.
Argenta closed 143 ATMs at the weekend after two jackpotting attacks. The perpetrators attacked machines in the communities of West Flanders, Roeslare, 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 them older machines at network the bank's. The ATMs, which were built by Diebold, are said to be replaced.
The bank has not confirmed how much money was stolen in the first wave attacks. They also did not say whether the jackpotting attempts were completely successful.
The Belgian federal police have started research for attacks on Argenta ATMs. Police believe the same criminal group is responsible for both attacks.
According to Argentine Christine Vermylen, despite the upgrades that have been made, ATMs are still vulnerable. "That's why we decided to close 143 ATMs of this type now, pending the installation of new machines later in the year. We are considering whether this process can be accelerated ".
Jackpotting attacks have been around for several years Europe and Asia. In 2018, such attacks were detected on USA. According to The Brussels Times, security experts believe that the attacks on Argenta are the first of their kind in Belgium.