This Fake Bitcoin ATM Scheme Has Wasted 4,000 Hours of Scammers' Time
A content creator known as Kitboga has successfully wasted nearly 4,000 hours of scammers' time through a fake Bitcoin ATM scheme. The scheme involves creating a fictitious receipt that scammers believe will allow them to redeem Bitcoin from their victims. Over a year, Kitboga's team has trapped around 500 scammers, with one scammer spending an astonishing 156 hours trying to redeem non-existent Bitcoin. The scammers are led through a frustrating maze of tasks, including solving tedious CAPTCHAs and navigating an automated phone system that misinterprets their responses. This creative approach not only wastes scammers' time but also allows Kitboga to gather valuable information for law enforcement. He collaborates with exchanges like Kraken to help freeze scam funds and prevent further attacks. Kitboga started this endeavor to protect vulnerable individuals, notably his own grandparents, from falling victim to scams. Initially a hobby, it has grown into a full-time commitment with millions of followers across platforms.
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