Kraken Trolls Joe Biden Impersonator With “Scam-Baiting” Scheme
The world of crypto currencies is plagued by fraudsters and scammers. The industry has experienced numerous scams of varying degrees, ranging from small-scale phishing schemes to large-scale impersonation scams. In a recent incident, a scammer posing as the President of the United States, Joe Biden , attempted to steal $450,000 worth of Bitcoin. Fortunately, the attempted scam was thwarted by the joint efforts of Kraken and prominent streamer Kitboga. As previously mentioned, Kraken uses a unique technique called “scam baiting” to identify and expose fraudulent wallets. They achieve this by creating a fake cryptocurrency account on their platform to attract and trap ill-doers. Here’s how Kraken & Kitboga dealt with ‘fake Joe Biden’ In an incident on May 10, Kitboga, a well-known streamer who specializes in exposing scammers, had an encounter with a fraudulent actor. He utilized a “custom environment” created by Kraken to interfere with the scammer. This collaboration came to fr...