DEF CON 33 - The Anatomy of a Crypto Scam - Nick Percoco & Kitboga
Source: YouTube · DEFCONConference · published Oct 10, 2025 · 55:38
This presentation by Nick Percoco (Kraken's Chief Security Officer) and Kit Boga (scam-baiter) focuses on crypto scams and how they're fighting back through awareness and disruption 0:00. They expose how organized crime groups and even nation-states target crypto investors through sophisticated social engineering tactics 5:14.
Key Takeaways:
• Crypto scams stole $9 billion in 2024, with one-third of victims being over 60 years old 12:04
• Scammers use both "spray and prey" tactics (mass texts/emails) and targeted attacks (personalized schemes) 6:00
• They've created a fake crypto exchange ("MyCoin") to waste scammers' time and collect intelligence 17:37
• Kit developed an AI bot army to engage scammers at scale, wasting hundreds of hours and collecting wallet information 23:00
Their collaboration demonstrates how combining entertainment with security awareness can effectively disrupt criminal operations in the crypto space 35:58.
Sources:
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First 800 characters of the transcript
All right, it's time. Hello everybody. Uh my name is Diego Salazar. I am not the person that you are here to see. Um I am here on behalf of the cryptocurrency community and challenge. We are downstairs in hall 4. Um and that we're the people that brought these guys in so they could talk with you all. Come give us a look. I see a bunch of people here from the uh from that community area. I don't know who's manning the community now as a result of all these people being here. So they hopefully nobody goes down there while we're here. Anyway, I'd like to introduce um our speakers, Nick Percoo and Kit Boga. They're going to be talking with you guys about scan cryptocurrency space. Come check us out down there. Thanks guys very much. Oh, one last thing. Spons uh the comm cryptocurrency communit…