A content creator known as Kitboga has effectively wasted around 4,000 hours of scammers' time using a fake Bitcoin ATM scheme designed to trap them in an endless loop. By creating a fake receipt linked to a non-existent Bitcoin exchange, Kitboga's team of 12 engages with scammers who ask victims to send money via Bitcoin ATMs. They endure tedious tasks, including CAPTCHAs and long hold times, while being subjected to nonsensical automated messages. Over a year, this scheme has ensnared about 500 scammers, with the average scammer spending nearly three hours trying to redeem the fake receipt, the longest being 156 hours. Kitboga's method not only entertains viewers but also collects vital information that can be used to track and penalize the fraudsters. By collaborating with exchanges like Kraken, Kitboga aims to disrupt scams and has expanded his operations to develop similar tactics for different types of fraud, including gift card scams. His initiative addresses the increasing prevalence of scams, especially to protect vulnerable populations who might fall victim to them.

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