How a Fake Bitcoin ATM Scheme Turned the Tables on Scammers, Wasting 4,000 Hours of Their Time
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How a Fake Bitcoin ATM Scheme Turned the Tables on Scammers, Wasting 4,000 Hours of Their Time

Education
bitcoin
scams
cryptosecurity
kitboga
blockchain
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Summary:

  • Fake Bitcoin ATM receipt traps scammers in an infinite maze, wasting 3,953 hours of their time

  • Scammers face absurd CAPTCHAs and endless hotline holds designed to frustrate and delay

  • Kitboga's scheme is his most effective tool for gathering actionable intel on scammers

  • Partnered with Kraken, the team has helped freeze scammer funds on reputable exchanges

  • The project started as a passion to protect vulnerable individuals and has grown into a massive educational effort

The Ingenious Trap That's Cost Scammers 4,000 Hours

A creative content creator has devised a fake Bitcoin ATM receipt that scammers can never redeem, trapping them in an infinite maze of frustration. This scheme has successfully wasted 3,953 hours of scammers' time, with the longest single attempt lasting 156 hours.

How the Scheme Works

Scammers often demand payments via Bitcoin ATMs, seeing them as a quick way to convert cash into crypto. Kitboga, a YouTube and Twitch streamer, created a Photoshopped Bitcoin ATM receipt linked to a fake exchange. The QR code and hotline number on the receipt lead scammers into a maze of tedious tasks and endless holds.

  • CAPTCHAs from Hell: Scammers face absurd challenges, like estimating the number of nuts in a bucket or playing "Sandstorm" by Darude on a keyboard.
  • Endless Hotline: After failing to redeem the Bitcoin, scammers call a hotline that mishears their inputs, leaves them on hold for hours, and demands they repeat ridiculous phrases like "super smelly ghost."

Why It Matters

Beyond wasting time, this scheme is Kitboga's most effective tool for gathering intel on scammers. By luring them into revealing wallet addresses or even accessing their cameras, his team can identify and report malicious actors to law enforcement. Partnered with Kraken, Kitboga has helped freeze scammer funds stored on reputable exchanges.

The Bigger Picture

Kitboga started this mission eight years ago after realizing his grandparents could easily fall for such scams. What began as a weekend hobby has grown into a full-time operation, educating millions through his 1.2 million Twitch followers and 3.74 million YouTube subscribers.

Now, his team is expanding the concept to gift card and mail-in cash scams, ensuring scammers waste even more time—and hopefully, save potential victims.

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