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Analyze » Bitcoin Depot » BIT1776076773

Incident Score: Analysis & Impact (BIT1776076773)

The details regarding individual company incidents & reports gives you full view from every side.

Rankiteo Score Impact Analysis

Rankiteo Incident Impact-194
Company Score Before Incident538 / 1000
Company Score After Incident344 / 1000
INCIDENT NUMBERBIT1776076773
Type of Cyber IncidentCyber Attack
ATTACK VECTORUnauthorized access to master wallet keys
DATA EXPOSEDNA
INCIDENT DATE22/03/2026
STATUSOngoing

Key Highlights From The Incident Analysis

  • Timeline of Bitcoin Depot's Cyber Attack and lateral movement inside company's environment.
  • Overview of affected data sets, including SSNs and PHI, and why they materially increase incident severity.
  • How Rankiteo’s incident engine converts technical details into a normalized incident score.
  • How this cyber incident impacts Bitcoin Depot Rankiteo cyber scoring and cyber rating.
  • Rankiteo’s MITRE ATT&CK correlation analysis for this incident, with associated confidence level.

Full Incident Analysis Transcript

In this Rankiteo incident briefing, we review the Bitcoin Depot breach identified under incident ID BIT1776076773.

The analysis begins with a detailed overview of Bitcoin Depot's information like the linkedin page: https://www.linkedin.com/company/bitcoin-depot, the number of followers: 16824, the industry type: Financial Services and the number of employees: 274 employees

After the initial compromise, the video explains how Rankiteo's incident engine converts technical details into a normalized incident score. The incident score before the incident was 538 and after the incident was 344 with a difference of -194 which is could be a good indicator of the severity and impact of the incident.

In the next step of the video, we will analyze in more details the incident and the impact it had on Bitcoin Depot and their customers.

On 23 March 2024, Bitcoin Depot disclosed Cryptocurrency Theft issues under the banner "Bitcoin Depot Hit by $3.6M Crypto Heist in Sophisticated Cyberattack".

Bitcoin Depot, a major operator of cryptocurrency ATMs and a publicly traded company on the New York Stock Exchange, confirmed a significant cyberattack resulting in the theft of 50.9 Bitcoins valued at approximately $3.6 million.

The disruption is felt across the environment, affecting Digital accounts, master wallet keys, plus an estimated financial loss of $3.6 million (50.9 BTC).

Formal response steps have not been shared publicly yet.

The case underscores how Ongoing.

Finally, we try to match the incident with the MITRE ATT&CK framework to see if there is any correlation between the incident and the MITRE ATT&CK framework.

The MITRE ATT&CK framework is a knowledge base of techniques and sub-techniques that are used to describe the tactics and procedures of cyber adversaries. It is a powerful tool for understanding the threat landscape and for developing effective defense strategies.

MITRE ATT&CK® Correlation Analysis

Rankiteo's analysis has identified several MITRE ATT&CK tactics and techniques associated with this incident, each with varying levels of confidence based on available evidence. Under the Initial Access tactic, the analysis identified Valid Accounts (T1078) with high confidence (90%), with evidence including attackers gaining access to master wallet keys, and digital accounts rather than its physical ATMs and Compromise Accounts (T1586) with moderate to high confidence (80%), with evidence including unauthorized transfer detected, and 19 suspicious wallet addresses linked. Under the Credential Access tactic, the analysis identified Unsecured Credentials: Private Keys (T1552.004) with high confidence (95%), with evidence including attackers gaining access to master wallet keys, and funds drained within minutes. Under the Lateral Movement tactic, the analysis identified Use Alternate Authentication Material: Pass the Hash (T1550.002) with moderate to high confidence (70%), with evidence including master wallet keys accessed, and 19 suspicious wallet addresses. Under the Collection tactic, the analysis identified Data from Cloud Storage (T1530) with moderate to high confidence (80%), with evidence including digital accounts targeted, and 50.9 Bitcoins stolen. Under the Exfiltration tactic, the analysis identified Exfiltration Over C2 Channel (T1041) with high confidence (90%), with evidence including 50.9 Bitcoins valued at $3.6M stolen, and funds drained within minutes and Automated Exfiltration (T1020) with moderate to high confidence (80%), with evidence including funds drained within minutes, and 19 suspicious wallet addresses. Under the Impact tactic, the analysis identified Data Encrypted for Impact (T1486) with lower confidence (30%), supported by evidence indicating no ransomware details, but funds irreversibly transferred and Financial Theft (T1657) with high confidence (100%), with evidence including $3.6M theft of 50.9 Bitcoins, and potentially 54 Bitcoins stolen. Under the Defense Evasion tactic, the analysis identified Hide Artifacts: Hidden Window (T1564.003) with moderate confidence (60%), with evidence including delay in detection (3 days), and theft may have occurred earlier (March 20) and Indicator Removal: Clear Windows Event Logs (T1070.001) with moderate confidence (50%), with evidence including no group officially attributed, and investigation ongoing. These correlations help security teams understand the attack chain and develop appropriate defensive measures based on the observed tactics and techniques.

Initial Access
Valid Accounts (90%)
Compromise Accounts (80%)
Credential Access
Unsecured Credentials: Private Keys (95%)
Lateral Movement
Use Alternate Authentication Material: Pass the Hash (70%)
Collection
Data from Cloud Storage (80%)
Exfiltration
Exfiltration Over C2 Channel (90%)
Automated Exfiltration (80%)
Impact
Data Encrypted for Impact (30%)
Financial Theft (100%)
Defense Evasion
Hide Artifacts: Hidden Window (60%)
Indicator Removal: Clear Windows Event Logs (50%)

Sources & References