This Fake Bitcoin ATM Scheme Has Wasted 4,000 Hours of Scammers' Time
A content creator named Kitboga has successfully wasted nearly 4,000 hours of scammers' time by creating a fake Bitcoin ATM scheme. Designed as a method to trap scammers, this scheme consists of a series of tedious tasks that keep them engaged while also allowing Kitboga to gather intelligence on these malicious actors. Through a fake ATM receipt that leads to a maze of automated misdirections, scammers are often left on hold for hours, repeating silly phrases and attempting to solve confusing tasks. Over a year, approximately 500 scammers have been ensnared in this scheme, with an average engagement time of three hours per scammer, and a record of one scammer spending 156 hours in the process. Kitboga aims to counteract online scams by absorbing scammers' time and attention, thus helping to protect vulnerable potential victims. He collaborates with law enforcement and cryptocurrency exchanges like Kraken to share the gathered intel, ultimately working towards freezing scammers' funds and disrupting their operations.
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