Thieves damaged an ATM with an explosive device in Ayia Fyla, Limassol and got away with a sum of money early on Tuesday.
The perpetrators broke the side window of the bank to gain access at 3.20am.
First investigations suggest they were two people who left on a motorbike.
It is not yet known how much money was stolen.
Video footage will be examined to identify the perpetrators.
Police are looking into the possibility the thieves are the same ones who used an identical method to break an ATM and stole money in Parekklisia on March 21.
CCTV footage revealed that before the explosion two men got off a large motorcycle near the machine.
Another attempt to blow up an ATM was made a day earlier in Germasoyia, this one unsuccessful.
The perpetrators were recorded fleeing the scene on a motorbike, just like in the second cases.