New ATM hack: Stealing money from modern chip-and-pin cards. There are many issues come to hear in the market but hacking on ATM is the trending and researchers mention that a simple chip and pin, hack to withdraw up to $50,000 from an ATM in America within just 15 minutes, So Chip and Pin cards are as easy as to clone the magnetic stripe cards.

It is also found that EMV i.e. Europay, MasterCard and Visa; chip-equipped cards would provide an extra layer of security and make them more secure so, it is hard to clone than the older magnetic stripe cards.

To check whether it works or not, a team of security engineers from Rapid7 at Black Hat USA 2016 conference in Las Vegas demonstrated how a small and simple modification on equipment would be sufficient for attackers to bypass the chip and pin protections and enable unauthorized transactions.

Now let me clear you how does this hack work:

The hack especially requires two processes to be performed. First one is Shimmer that is used by criminals to show a point of scale (POS) machine to pull off a man-in-the-middle (MITM) attack against an ATM. The shimmer works as mediator between the victim’s chip and the card reader in the ATM and can record the data on the chip, including the PIN. Then the criminal use the smart phone to download this stolen data and recreate the victim’s card in an ATM, instructing it to eject cash constantly. Actually, Shimmer is a tiny Raspberry-pi-powered device that is installed quickly to the outside of the ATM without the access to the internals of the cash machine.

Beside this the penetrators able to replicate each card for a instance of time and can be used fraudulently to withdraw money, and enabling them to make between up to $50,000. It also creates constant steams of victim.

Finally it is found that there are many hacker techniques to do hack on ATM. So if you need any information on it, mention your comment on this article.