The Unabated Reign of ATM Hacking: The 2021 Rajasthan ATM Attack and the Proliferation of Novel ATM Hacking Tools and Techniques

This report outlines common physical and technical ATM jackpotting techniques and marketplaces for ATM malware, and analyzes the 16–18 July 2021 Rajasthan incident in which two individuals used a Raspberry Pi-based man-in-the-middle/black-box approach to disconnect ATMs from bank servers and fraudulently withdraw INR 3.2 million from multiple machines; the document concludes with mitigation recommendations such as OS/software updates, stronger physical locks, and improved network segmentation.