How did YouTuber Kitboga Stand Up to Cryptocurrency Scammers in Their Own Game?

• Scammers are deceiving innocent users by taking advantage of the complexities of the crypto ecosystem.
• According to a study, one-third of Americans fall victim to crypto theft.
• However, YouTuber Kitboga has outsmarted scammers at their own game.

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While one-third of Americans fall victim to crypto theft, YouTuber Kitboga partnered with Kraken Exchange to deceive scammers at their own game.

Due to the sophisticated nature of technology, scammers use it to deceive individuals with less technological knowledge, leading to widespread crypto fraud.

However, YouTuber Kitboga, who has gained fame for defeating scammers, has managed to outsmart them at their own game.

Kitboga Sent $455,000 Worth of Crypto to the Wrong Address

Kitboga, along with Kraken’s team, created a fake account worth more than $455,000. He then showed the fake account to the scammer through screen sharing software.

The scammer, claiming to be US President Joe Biden, sent Kitboga a Kraken wallet address and asked him to send the funds to that specific wallet. However, the YouTuber intentionally wrote the address wrong and sent the funds to the wrong wallet.

The scammer then got angry and insulted Kitboga, thinking he wouldn’t be able to receive the amount.

With over three million subscribers, the YouTuber creates content related to deceiving scammers. In May, he uploaded a video pretending to be an elderly woman when scammers attempted to steal $10,000 worth of Bitcoin.

Increasing Crypto Fraud

Although Kitboga’s content is humor-oriented, viewers need to watch it to learn about the various tricks scammers use. According to a recent study by COINOTAG, one-third of Americans reported falling victim to crypto theft.

In addition, people lost an average of $97,583 to crypto scammers. Investors should follow specific practices, such as not storing their private key phrases on any device connected to the internet.

When using centralized exchanges, users should prefer two-factor authentication and not share their passwords with anyone.

Additionally, people should be cautious of various phishing attacks. Crypto investors should double-check when connecting their wallets to random websites.

Furthermore, it is necessary not to click on any link from random direct messages on social media.

For COINOTAG’s latest Bitcoin (BTC) analysis, click here.