As one in three Americans become victims of crypto thefts, YouTuber Kitboga has turned the tables by collaborating with Kraken Exchange to trick scammers at their own game.
Due to the sophisticated nature of technology, scammers are using it to deceive less tech-savvy, individuals, resulting in a widespread occurrence of crypto scams.
However, Kitboga, a YouTuber renowned for thwarting scammers, has managed to outsmart them at their own game.
Kitboga Sent $455,000 Worth of Crypto to the Wrong Address
Kitboga worked with crypto exchange Kraken’s team to set up a dummy account with over $455,000. And then he showed the dummy account to the scammer via screen-sharing software.
The scammer, claiming to be U.S. President Joe Biden, sent Kitboga a Kraken wallet address and asked him to send the funds to that particular wallet. But, the YouTuber intentionally mistyped the address and sent funds to the wrong wallet.
Later the scammer got frustrated, thinking that he lost the opportunity to get the amount, and hurled abuse at Kitboga.
With over $3 million subscribers, the YouTuber creates content around tricking scammers. Recently on May 1, he uploaded a video where he pretended to be an old lady while scammers tried to steal $10,000 worth of Bitcoin.
Rising Crypto Scams
While Kitboga’s content is centered around humor, it is also necessary for the viewers to learn about various tricks the scammer use. BeInCrypto reported that according to a recent survey, one in three Americans are victims of crypto theft.
Additionally, on average, people lost $97,583 to crypto scammers. Investors should follow certain practices, such as not storing secret key phrases in any devices that are connected to the internet.
While using centralized exchanges, users should opt for two-factor authentication and never share their passwords with anyone.
Also, there is a need to be vigilant of various phishing attacks. Crypto investors should double-check while connecting their wallets with any random websites.
It is also necessary not to click on any links received from random direct messages on social media.
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Disclaimer
In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.
