In his own words, what he did was "really stupid and selfish", and he apologises. Many players in his position would have done nothing and left the game out of embarrassment, or contacted the Moderator privately about what happened in order to avoid being publicly embarrassed. Instead he's put the good of the community first by publicly admitting everything in order to try to prevent others from falling for the same swindle. In doing so, I rather suspect he showed a degree of integrity this trickster wasn't counting on, and for that, at least, he has my respect.
But anyway, this is an issue for Amazeroth to sort out.