Scammers are increasingly harnessing generative AI(GenAI) technologies to produce convincing phishing content at scale, amplifying financial fraud and undermining public trust. While conventional defenses, such as detection algorithms, user training, and reactive takedown efforts remain important, they often fall short in dismantling the infrastructure scammers depend on, including mule bank accounts and cryptocurrency wallets. To bridge this gap, a proactive and emerging strategy involves using conversational honeypots to engage scammers and extract actionable threat intelligence. This paper presents the first large-scale, real-world evaluation of a scambaiting system powered by large language models (LLMs). Over a five-month deployment, the system initiated over 2,600 engagements with actual scammers, resulting in a dataset of more than 18,700 messages. It achieved an Information Disclosure Rate (IDR) of approximately 32%, successfully extracting sensitive financial information such as mule accounts. Additionally, the system maintained a Human Acceptance Rate (HAR) of around 70%, indicating strong alignment between LLM-generated responses and human operator preferences. Alongside these successes, our analysis reveals key operational challenges. In particular, the system struggled with engagement takeoff: only 48.7% of scammers responded to the initial seed message sent by defenders. These findings highlight the need for further refinement and provide actionable insights for advancing the design of automated scambaiting systems.