A recent theft in a Los Angeles bakery led to an inadvertently amusing turn of events as the thief literally first hammered and then picked up a Bitcoin ATM and left. The news was first broken by mainstream media outlet CBS News.
The theft occurred in a bakery known as the Belwood Bakery, located in the Brentwood Village of Los Angeles. As closed circuit television footage (CCTV) shows, the thief first broke into the store by breaking the glass door at the entrance. Having entered, the thief then went straight for the crypto ATM within the shop.
At this point, it seems that the thief mistook the crypto ATM as a mainstream ATM. A mainstream ATM or automatic teller machine would simply churn out fiat currency for the user, once the debit card is swiped, and the pin is inputted. As a result, the machine must always have an adequate amount of cash in immediate, physical storage.
However, obviously, a crypto ATM is not anything like that. Here you choose the option that allows you to buy a cryptocurrency and then insert fiat bills equivalent to the amount of crypto you want. After that, the crypto amount is directly transferred to your cryptocurrency wallet, because physical Bitcoins or cryptocurrencies are not possible, given that is the point of digital assets.
The thief first dislodged the machine by striking it with his sledgehammer twice. The thief then tried to strike the machine itself, and attempted to break it. He soon realized that it was not the best idea but he still failed to grasp the simple fact that there was no cash within the machine for him to steal.
After that, the thief is seen picking up the whole, damaged machine and leaving with it. Naturally, this news has proved to be quite amusing to the crypto community given that there really is nothing that the thief can possibly do with the broken machine.
As the owners of the bakery shop have told the police, this is not the first time it has been broken into. In the course of a 90 day period, the shop has been broken into for the third time. Nothing was stolen during the break-ins on 18th November and 21st December.