Binance co-founder Changpeng “CZ” Zhao is now worth at least $75 billion after the BNB token hit a new all-time high of $850.70.

CZ’s estimated BNB holdings hit $75B as BNB breaks new highs

Scammers will always find a way, especially in crypto, where regulation is 
often lacking and enforcement feels like a distant dream. So, how do you fight 
back? Simple. Beat them at their own game, waste their time, and watch them 
squirm. Kitboga Strikes Back A pseudonymous streamer known as Kitboga designed 
an effective and satisfying new weapon in the fight against crypto fraud: a 
fake Bitcoin ATM ‘maze.’ A popular tool for crypto scammers is to have victims 
deposit cash into a Bitcoin ATM; the machine will then produce the destination 
wallet address and transaction ID. Once the scammers have the newly converted 
Bitcoin, they can ignore the victim and move on. Bitcoin ATMs are surprisingly 
accessible – there are over 40K worldwide – and so are an easy tool for 
scammers to use. Kitboga has weaponized the ATM part of the scam and turned it 
against would-be scammers. He crafted a digital ‘maze’—a nightmare of customer 
service loops, endless hold queues, CAPTCHA, and AI-powered confusion. It’s 
like an evil bureaucrat’s dream: a twisted journey through digital hell, with 
a fake Bitcoin waiting at the end. Kitboga’s trap has wasted over 4,000 hours 
of scammers&#8217; time. What started as comedic content has transformed into a 
real-time weapon against scams, gathering intel and frustrating fraudsters at 
every turn. Engineering the Maze When scammers demand victims deposit cash at 
Bitcoin ATMs, Kitboga counters with a Photoshopped receipt: a QR code linking 
to a fictional exchange and a hotline that leads victims (or, in this case, 
scammers) into a purpose‑built labyrinth. Once inside, attackers must solve 
tedious tasks in the guise of CAPTCHA or human verification: estimate the 
number of nuts in a bucket, gauge wave heights, or even play Derude’s 
‘Sandstorm’ on a keyboard (as an added bonus, each attempt causes the CAPTCHA 
to speed up). Enter the wallet address incorrectly – and of course, it’s a 
fake, so it will automatically be incorrect – and Kitboga’s system triggers 
automated phone interactions where an AI will intentionally mishear digits, 
repeat prompt failures, and eventually trap the scammer in prolonged hold 
periods. Over the past year, the fake ATM has trapped about 500 scammers, 
occupying them for 3,953 hours, approximately 164 days. On average, each 
scammer spends nearly 3 hours in the maze, while the record stands at 156 
hours; that’s more than six days. Six days in which the scammer wasn’t 
scamming someone else. More Than a Time Waster Kitboga isn’t merely playing 
games with scammers; he’s gathering actionable intelligence. Registering on 
the fake crypto exchange Kitboga set up requires scammers to enter their 
Bitcoin address, giving the team a growing database of known scam wallets. 
Some attackers inadvertently reveal video feeds or other identifiers. In 
collaboration with Kraken, crypto funds obtained by scammers have reportedly 
been frozen based on information from the maze. The fake ATM maze is Kitboga’s 
‘second most effective tool,’ behind AI‑powered autodialers. His team is 
launching similar infinite‑maze tactics for other scam types, including gift 
card fraud and mailed‑cash schemes. Bitcoin ATM scams are nothing new—but 
their scale is increasing. In the first half of 2024, U.S. consumers lost 
nearly $65M to scams routed through ATMs; 2023 saw over $100M lost in crypto 
ATM scams. But like normal people, for fraudsters, time is money. Every minute 
spent in Kitboga’s maze is not spent scamming real victims – the maze even 
requires scammers on hold to respond with ridiculous phrases or risk losing 
their spot. Scambaiting isn’t the only tool in the arsenal – other entities, 
like Chinese law enforcement, are turning to different tools. Chinese Local 
Law Enforcement Step Up Beijing’s Haidian District People’s Procuratorate 
exposed an embezzlement-driven crypto laundering operation involving Kuaishou 
employees. The employees siphoned approximately ¥140M ($20M) via Bitcoin and 
mixers routed through at least eight overseas exchanges. Authorities recovered 
92 BTC (¥89M, $11.7M) and successfully prosecuted eight insiders, issuing 
prison terms ranging from 3 to 14 years alongside financial penalties. China 
has some of the strictest anti-crypto policies in the world. That makes the 
potential gains from crypto scams even greater, though it elevates the risk. A 
prosecutor noted the case exhibits all the traits of modern digital-era 
corruption: Small-scale officials engaging in big fraud Crypto-aided money 
laundering Poor risk control within corporations Though China has banned 
crypto trading and mining, underground operations remain vibrant. Earlier 
investigations uncovered a $2.2B money laundering ring using OTC brokers, 
secret shell companies, and exchanges, often used to bypass China’s strict 
foreign exchange caps. In the end, what brought down the latest crypto 
scamming ring was dedicated local law enforcement, illustrating that the path 
forward to fight scams involves boots-on-the-ground in more than one way. The 
fight also requires increasing everyday crypto literacy – and that means a 
top-of-the-line crypto wallet. Best Wallet Token ($BEST) – Web3 Wallet for 
Safe, Secure, Non-Custodial Crypto Economy Best Wallet Token ($BEST) powers 
the Best Wallet, a mobile-first, non‑custodial wallet supporting over 50 
blockchains and thousands of assets. Holding $BEST offers multiple utilities: 
reduced transaction fees priority access to presale launches higher staking 
rewards governance rights The Best Wallet app features seamless cross-chain 
swaps and a growing integrated economy; Best Wallet, the $BEST token, and an 
upcoming Best Card. Interest in a wallet that provides real value for the 
growing crypto world has driven the presale past the $14M mark. With tokens 
currently priced at $0.025395, there’s never been a better time to get in. You 
can learn how to buy $BEST with our guide. Visit the Best Wallet Token ($BEST) 
presale page today. Scambaiting, Local Enforcement, Best Wallet Keys to Crypto 
Safety What began as comedic scambaiting for Kitboga evolved into a novel form 
of activism. It highlighted just how important it is to have a comprehensive 
approach to avoiding crypto scams – an approach that heavily features Best 
Wallet. As always, do your own research. This isn’t financial advice.

Crypto Scammers Waste 4K Hours & China Makes $12M Crypto Bust: Best Wallet Protects You

Japanese firm Metaplanet cemented its status as the top non-US Bitcoin 
treasury with a 780 BTC purchase, bringing its total holdings to 17,132 BTC.

Metaplanet adds 790 Bitcoin, now holds 17,130 BTC worth over $2B

We’ll have to wait and see, based on the pilot program, whether decision 
makers in Australia find enough reasons to justify a wider rollout.

Australia’s retail CBDC: A privacy trade-off nobody actually wants | Opinion

BNB just broke through its previous ceiling, notching a new all-time high as 
bullish momentum floods into the Binance ecosystem. According to crypto.news 
data on July 28, BNB (BNB) has soared over 7.7% in the past 24 hours, trading 
slightly…

BNB blasts past $850 to new ATH, what’s driving the rally?

Bitcoin fell to an intraday low of $117,914 today as $47.5 million in 
liquidations hit the market. However, the broader bullish structure still 
remains intact. Why did BTC price dip today? Bitcoin’s price dipped today as 
it entered a high-liquidity…