This Fake Bitcoin ATM Scheme Has Wasted 4,000 Hours of Scammers' Time
Streamer Kitboga has ingeniously wasted approximately 4,000 hours of scammers' time by creating a fake Bitcoin ATM scheme. This initiative has allowed him to gather valuable intel on malicious actors while generating humorous content. Kitboga's team, consisting of 12 members, engages with scammers who typically request money through Bitcoin ATMs. They designed a fake receipt linked to an unreachable exchange, which leads scammers through a frustrating maze of tedious tasks and automated responses. Over 500 scammers have fallen into the trap, with an average engagement time of just under three hours and one scammer enduring an astounding 156 hours. The process includes confounding CAPTCHAs and a torturous hold experience, ensuring scammers are occupied and unable to target real victims. This entertaining approach not only serves as a creative deterrent but has also proved effective for gathering actionable information against scams, with collaborations involving cryptocurrency exchange Kraken for further McCarthyite efforts against fraud.
Source š