Net Bitcoin ATMs record an increase after 4 months of global downtrend

Breaking the year-long trend of declining Bitcoin (BTC) and crypto ATMs around the world, May recorded a surge in net installs of nearly 1,400 machines.

The total number of crypto ATMs experienced a consistent decline throughout the first four months of 2023. While major economies, including the United States and Europe, contributed to the dwindling numbers over the time frame, Australia, Poland, and Spain increased the number of crypto ATMs in their respective Regions.

The chart above shows that in the first four months of 2023, the number of net crypto ATMs worldwide decreased by 5,850. However, 1,397 machines were added back to the global crypto-ATM network in May, Coin ATM Radar data confirms

While Bitcoin ATMs do not contribute to the growth of the Bitcoin network, it serves as a physical gateway for people to exchange their fiat currency for crypto. In 2023 alone, Australia installed a total of 233 ATMs, moving up the ranks to become the third largest crypto ATM hub in the world.

Despite a poor year-long decline, the United States maintains a leading position – accounting for 84.7% of the world’s crypto ATMs, followed by Canada at 7.6%.

Related: Australia ranks 3rd in crypto ATM installations after the US and Canada

At the time of writing, 35,069 ATMs are still operational worldwide. Recently, a hacker managed to access sensitive information from Bitcoin ATM manufacturer General Bytes, including passwords, private keys, and funds.

On March 17-18, 2023, GENERAL BYTES experienced a security incident.

We have released a statement urging customers to take immediate action to protect their personal information.

We urge all our customers to take immediate action to protect their money and

— GENERAL BYTES (@generalbytes) March 18, 2023

“We have taken immediate steps to prevent further unauthorized access to our systems and are working tirelessly to protect our customers,” General Bytes said in its statement.

As previously reported by Cointelegraph, the hacker managed to drain at least 56 BTC and 21.82 Ether (ETH). To avoid a similar situation in the future, the company advised its operators and customers to migrate to a self-hosted server installation, which can be secured by a VPN.

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