An investor in the Gigachad (GIGA) token, known online as “Still in the Game,” reportedly suffered a $6.09 million loss in a targeted phishing attack involving a fake Zoom link.
The investor explained in an X post that the observed drop in the token’s value resulted from a massive sell-off caused by malicious access to their wallets after clicking on a fraudulent Zoom invitation.
“Just want to be transparent—the massive sell on $GIGA today was due to one of my wallets being drained by a fake Zoom link. This hurts, but I will be back,” the investor wrote in the post.
Just want to be transparent – the massive sell on $GIGA today was due to one of my wallets being drained by a fake zoom link
This hurts bad but I will be back. I will always stay in the game
Please be careful out there and never click any links from those you don’t know…
— Still in the Game (@stigstigstig_) November 11, 2024
According to crypto security firm Scam Sniffer, the phishing scam was meticulously planned. The fraudulent Zoom link redirected the victim to a website designed to collect sensitive wallet data, which was then exploited through malware that infiltrated the victim’s device.
The attacker reportedly funnelled assets from the victim’s three crypto wallets into a single wallet and then converted the stolen GIGA tokens into 11,759 Solana (SOL), worth approximately $2.1 million, before transferring the funds to Tether (USDT) and USD Coin (USDC). The stolen assets were then moved to another wallet address, with a portion—700 SOL—later sent to the KuCoin exchange.
The investor noted they have since involved the U.S. Federal Bureau of Investigation (FBI) and a forensic team to assist in fund recovery efforts. Despite the setback, they voiced optimism, vowing to recoup their losses and more.
This high-profile breach follows the recent collapse of Indian crypto exchange WazirX, which suffered a $235 million hack in July. Notably, the exchange is preparing to resume trading in February 2025, with plans to launch new features like staking and an over-the-counter desk to boost revenue and support victims affected by the hack.
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