This Fake Bitcoin ATM Scheme Has Wasted 4,000 Hours of Scammers' Time
Content creator Kitboga has effectively trapped scammers for nearly 4,000 hours by creating a fake Bitcoin ATM scheme that leads them through an endless series of misleading tasks. This method allows Kitboga and his team to gather valuable intelligence while also creating humorous content. The scammers are often directed to Bitcoin ATMs, where they expect to receive a redeemable receipt, but instead they encounter a fake receipt linked to an unserviceable QR code. Over a period of more than a year, approximately 500 scammers have been ensnared in this tactic, spending an average of three hours each within the maze, with the longest victim indulging for 156 hours. The automated system also annoys scammers with confusing menus and ridiculous verifications, guaranteeing they cannot engage in other scams while entangled. Kitboga's initiative not only helps waste scammers' time but also has assisted in freezing funds linked to malicious actors through collaborative intelligence efforts with law enforcement and cryptocurrency exchanges.
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