The ATM has been mangled and surrounded with caution tape since Dec. 31.
The incident happened in the 2000 block of Union Avenue less than two blocks from a police precinct.
A witness told officers that men in a red pickup truck backed up to the cash machine, hooked a chain to it and pulled it off its base.
"That's pretty stupid because I'm pretty sure you could track that, so that's very bold, not going to lie," said Hunter Magnifico, a Memphis resident.
Witnesses told police the men unloaded the machine after breaking into it and took off Eastbound on Union, then Southbound on Florence Street.
According to law Enforcement Analyst, Mike Collins, this type of robbery is pretty uncommon.
“That’s very uncommon as it relates to ATM snatch and grab type of robberies when they take an ATM,” Collin said.
Collins is a retired lieutenant with the Shelby County Sheriff’s Office. He said the bold steps the criminals took could become a new trend across the Mid-South.
“It’s a possibility the person attempts to do it just to see if there was going to be any success in getting the ATM removed and I think they were successful and I think it points to a possibility that there’s a likelihood that this might happen again,” Collins said.
Collins said the bank needs to beef up security and advised businesses to take extra steps to make sure their machines are secure.
Memphis police are reviewing surveillance video, but have not released that video.
Police said they found the red pickup truck on Vinton Avenue with the ignition punched out and no one inside.
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