Kraken Collaborates with Streamer Kitboga to Expose Scammers Using Decoy Accounts
Kraken's Collaboration with Kitboga Exposes Scammers Using Ingenious Decoy Account Strategy
Thu, 11 May 2023, 10:56 am UTC
Cryptocurrency exchange Kraken has implemented an innovative strategy to identify and expose malicious wallet addresses by creating decoy accounts on its platform, designed to ensnare scammers. On May 10, popular streamer Kitboga, known for his entertaining interactions with scammers, revealed on Twitter that Kraken had developed a "custom environment" for him to employ in thwarting a fraudster impersonating President Joe Biden. Kitboga had encountered the same scammer approximately a year earlier.
When the scammer, who believes he has successfully deceived Kitboga's character into installing screen-sharing software, sees the funds in the fake account, he becomes elated at the prospect of a significant payout. However, a humorous twist unfolds when Kitboga, portraying an elderly woman in the video, mistakenly types the scammer's wallet address incorrectly before initiating the fund transfer. As a result, the scammer becomes furious, hurling a barrage of profanities at Kitboga.
Interestingly, the scammer provides a BTC wallet address hosted by Kraken, allowing the cryptocurrency exchange to identify and flag their activities. This collaboration between Kitboga and Kraken's Chief Security Officer, Nick Percoco, has proven effective. Kitboga has garnered 1.2 million followers on Twitch and 3 million followers on YouTube for his content, which amusingly frustrates call center scammers by portraying various technologically-challenged characters.
In certain instances, Kitboga has even succeeded in shutting down the scammers' fraudulent websites by reporting the scams to their hosting providers. According to Kitboga's YouTube profile, his mission is to "waste their time, walk people through their 'script' and lies, report info when I can, and otherwise make light of a dark situation."
In a video uploaded on May 1, Kitboga showcased a new Bitcoin-related "social security scam" that targets victims through emails or text messages, notifying them of suspicious purchases made using their bank accounts. When victims call the provided numbers, the scammers pretend that their identities have been stolen and instruct them to withdraw all their money, purchase BTC, and send it to a "secure government wallet." In response, Kitboga humorously pretends to have his "grandson" buy 10,000 BTC and send it to an incorrect address.
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