{"id":18547,"date":"2023-05-11T02:35:44","date_gmt":"2023-05-11T02:35:44","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/to-catch-a-scammer-kraken-builds-fake-crypto-account-to-bait-fraudsters\/"},"modified":"2023-05-11T02:35:46","modified_gmt":"2023-05-11T02:35:46","slug":"to-catch-a-scammer-kraken-builds-fake-crypto-account-to-bait-fraudsters","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/to-catch-a-scammer-kraken-builds-fake-crypto-account-to-bait-fraudsters\/","title":{"rendered":"To catch a scammer: Kraken builds fake crypto account to \u2018bait\u2019 fraudsters"},"content":{"rendered":"

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United States crypto exchange Kraken has provided a novel method for flagging nefarious wallets \u2014 building a fake crypto account on the exchange to \u201cscam bait\u201d bad actors.<\/p>\n

Tweeting on May 10, popular streamer Kitboga \u2014 whose content revolves around annoying scammers\u2014 revealed that Kraken had built him a \u201ccustom environment\u201d which he used to frustrate a scammer impersonating President Joe Biden, who he previously had a run-in with around a year ago. <\/p>\n

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This was so much fun!<\/p>\n

\u2014 Nick Percoco (@c7five) May 10, 2023<\/a><\/p><\/blockquote>\n

In the accompanying video clip, Kitboga can be seen with around $450,000 worth of Bitcoin (BTC) in his Kraken-built fake crypto account. <\/p>\n

The scammer then sees the funds via video remote computer screen-sharing software that he supposedly duped Kitboga\u2019s character into downloading, and gets very excited about a big potential payday. <\/p>\n

However, the punchline comes when Kitboga, who is portraying an elderly woman in the video, incorrectly enters the scammer\u2019s wallet address before sending over all of the funds. As a result, the scammer becomes highly infuriated and starts berating Kitboga with a slew of swear words. <\/p>\n

Notably, the scammer appears to have supplied a Kraken-hosted BTC wallet address, which essentially enables the crypto exchange to identify them and flag their activity. <\/p>\n

The idea behind this collaboration seems to have been made possible by Kraken’s chief security officer Nick Percoco and Kitboga. <\/p>\n

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best crypto marketing i\u2019ve seen on tiktok yet. <\/p>\n

Kraken sponsored a huge scam baiter account. They built him a custom environment so he could fuck with scammers pic.twitter.com\/86p6FLA4g6<\/a><\/p>\n

\u2014 Neeraj K. Agrawal (@NeerajKA) May 10, 2023<\/a><\/p><\/blockquote>\n

Kitboga has 1.2 million followers on Twitch and 3 million followers on YouTube. His content generally revolves around comedically wasting the time of call center scammers by playing a bunch of non-tech-savvy characters. <\/p>\n

In some cases, he has also managed to get their dubious websites taken down by reporting the fraud to the hosting companies these websites are stored with. <\/p>\n

\u201cEveryday there are scammers taking advantage of people. I call them to waste their time, walk people through their \u2018script\u2019 and lies, report info when I can, and otherwise make light of a dark situation,\u201d his YouTube profile reads.<\/p>\n

Cointelegraph reached out to Kitboga for comment.\u00a0<\/p>\n

In a video on May 1, Kitboga highlighted a new BTC-related \u201csocial security scam\u201d that targets victims via email or text message claiming that strange purchases have been made with their bank accounts.<\/p>\n

Related: <\/em><\/strong>April\u2019s crypto scams, exploits and hacks lead to $103M lost \u2014 CertiK<\/em><\/strong><\/p>\n

However, when victims call the numbers provided, the scammers claim that their identities have been stolen and that they need to withdraw all their cash, buy BTC and send the funds to a \u201csecure government wallet.\u201d<\/p>\n

Kitboga obviously had fun with these scammers by pretending to get their \u201cgrandson\u201d to buy 10,000 BTC and send it to the wrong address. <\/p>\n