Pretty much has been common knowledge for PvP factions - we learned about it the hard way. One of the ships we brought to salvage was tracked, then the people who tracked it came and tried to steal our ships and got tracked and taken back by us.
It’s been actively and openly used by remnants of 5AP with no repercussions. We did not actively leave bait ships in 4.0 but in 5.0 ships we killed would be set to LBP, waypointed, then flipped back to public.
This tactic was essentially discussed on Nov 28th:
https://forum.empyrion-homeworld.net/t/hws-police-general-discussion/1986/90?u=mordgier
Not arguing that it is or isn’t an exploit - just that it’s been around since they added waypoints and very widely used.