Kraken: a new crypto anti-scam scheme

Crypto scammers are a recurring problem that exchanges (including Kraken) have to deal with on a daily basis. For its part, Kraken decided to innovate by creating a fake crypto account to lure fraudsters. This strategy is based on a collaboration with popular streamer Kitboga. The latter revealed this new tactic in a tweet on May 10.

Kitboga Reveals Kraken Built “Custom Environment” To Trap Crypto Scammer

Anti-Crypto Scammers Campaign: Kraken Collaborates with Popular Streamer Kitboga

Kitboga is a well-known steamer within the crypto community. With 1.2 million subscribers on Twitch and 3 million on YouTube, he exclusively offers content focused on crypto scams. He regularly posts videos about the comedic waste of time by crypto call center scammers.

To unmask a crypto scammer, Kraken collaborated with Kitboga. The latter used the exchange’s fake account to store almost $450,000 in bitcoin (BTC), thus attracting the attention of a crypto scammer. He had posed as US President Joe Biden. This same scammer had already tried to scam Kitboga a year ago.

How did the script go?

A video shows Kitboga using a fake account created by Kraken to store nearly $450,000 worth of bitcoin. The crypto scammer sees the funds through computer screen sharing software.

Kitboga (who plays the role of an old lady) has mistakenly entered the crypto scammer’s wallet address before transferring any funds. A situation that made the scammer very angry. So he began to proliferate swear words.

The crypto scammer had used a bitcoin wallet address hosted by Kraken, thereby allowing the crypto exchange to monitor his behavior and identify it fairly quickly.

The number of online scams (and especially crypto scams) has been increasing lately. Kraken’s innovative strategy, based on creating a fake account to trap crypto scammers, is an example to follow. In any case, it can deter other potential fraudsters. What would improve the security of the crypto ecosystem.

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