This Fake Bitcoin ATM Scheme Has Wasted 4,000 Hours of Scammers' Time
Streamer Kitboga has ingeniously trapped scammers for nearly 4,000 hours by creating a fake Bitcoin ATM scheme. The strategy involves providing scammers with a non-redeemable Bitcoin receipt, leading them on a tedious journey filled with automated calls, CAPTCHAs, and false expectations of receiving money. Over the course of a year, approximately 500 scammers have been lured into this scheme, with each spending an average of three hours navigating a series of frustrating tasks that include answering bizarre questions and dealing with long hold times. Kitboga, who began this as a hobby, now aims to waste scammers' time to gather intel that aids law enforcement in addressing these malicious actors. His efforts have led to collaboration with cryptocurrency exchange Kraken, which helps him combat scam operations. This innovative approach not only entertains his audience on platforms like YouTube and Twitch but also contributes to the fight against crypto scams.
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