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Kraken and KitBoga Partnership: Combating Crypto Scammers

Kraken and KitBoga Partnership: Combating Crypto Scammers

Amid the drama related to the ‘whitehat‘ Certik hack. Kraken is continuing its partnership with popular YouTuber KitBoga to combat crypto scammers. This collaboration, which has been ongoing for over a year, aims to leverage KitBoga’s unique approach of engaging with and exposing scammers to gather critical information that can be used by authorities to track and take down these fraudulent operations.

In an innovative effort to tackle crypto fraud, Kraken has teamed up with YouTuber KitBoga, who is known for his creative approach to exposing scammers. Beyond entertainment, this collaboration aims to identify and disrupt fraudulent activities that exploit crypto users.

Kraken developed a dummy version of the Kraken website that allows KitBoga to dupe scammers into believing they can steal his Bitcoin. Little do they realize that every time they enter an address to withdraw his funds, that address is flagged and sent around to all crypto exchanges for review. Previous collaborations between Kraken and KitBoga appear to have successfully frozen funds from other scammers preying on the elderly.

Most recent scammers scammed by Kraken and KitBoga

The partnership’s strategy was highlighted in a recent KitBoga video, where he engaged with a scammer running a common grandparent scam. This scam involves fraudsters convincing elderly individuals that their grandchildren are in trouble and need money, often paid through Bitcoin ATMs. KitBoga, using his experience and skills, devised a plan to trap the scammer by pretending to be a concerned grandparent willing to pay the demanded ransom.

KitBoga’s approach involved setting up a fake Bitcoin ATM and a mock Bitcoin exchange website controlled by his team. By doing so, they could manipulate the interaction and gather crucial data from the scammer. The scammer, believing he was about to receive funds, was instead led through a series of frustrating interactions designed to waste his time and extract more information about his operations.

Throughout the video, KitBoga managed to obtain multiple Bitcoin wallet addresses used by the scammer. This information was critical, as it allowed Kraken’s fraud team to analyze the transaction history linked to these wallets. By identifying patterns and connections, Kraken could trace the flow of stolen funds and potentially recover some of the money sent by scam victims.

Kraken’s Chief Security Officer, Nick Percoco, played a significant role in the operation. By joining…

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