GIGA investor loses $6M to phishing scam via fake Zoom link

A Gigachad token investor lost $6.09 million due to a phishing link that appeared as a Zoom meeting invite, resulting in malware installation and wallet theft.
A hacker stole 95.3 million GIGA tokens, converting them swiftly to Solana and stablecoins such as Tether and USD Coin, with some transferred to the KuCoin exchange.
The victim reported the theft to the FBI and hired a forensics team to help track and recover the lost funds.

On Monday, a Gigachad (GIGA) investor lost $6.09 million due to a phishing attack involving a fake Zoom link. Crypto investigation firm Scam Sniffer declared the scam that led the victim to a malicious site, compromising their wallet. According to the investor, the FBI and a forensics team are working to recover the funds.

A leading GIGA investor, identified as Still in the Game on X, has issued an urgent alert regarding a suspected hack.

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

Scam Sniffer reports that the attack started when the victim clicked a fake Zoom invitation link, redirecting to a malicious website that was created to capture sensitive wallet details.

WARNING: Beware of fake Zoom malware!
A $GIGA holder lost millions!

Compare carefully:
us04-zoom[.]us ❌
us02web.zoom[.]us ✅

They look similar, right? That's the trap! pic.twitter.com/RWMur5MM7V
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) November 12, 2024

Hacker converts stolen GIGA tokens

The phishing site installed malware on the victim's laptop, allowing the hacker to drain funds from three crypto wallets and consolidate them before cashing out.

On-chain analytics firm Onchain Lens reports that a hacker stole 95.3 million GIGA tokens from a victim, valued at approximately $6.09 million. The hacker exchanged the stolen GIGA tokens for 11,759 Solana, worth about $2.1 million, then converted the assets into Tether and USD stablecoins.

A scammer drained 3 wallets holding $GIGA, causing a massive sell-off and a significant sell wick.

The scammer stole 95.27M $GIGA, valued at $6.09M before the sell-off, and sold it for 11,759 $SOL, worth $2.1M.

Later, the scammer converted $SOL into $USDC and $USDT and… https://t.co/vuDVDINdua pic.twitter.com/8BkQ31RVzv
— Onchain Lens (@OnchainLens) November 12, 2024

Stablecoins were transferred to a separate wallet, and an additional 700 SOL tokens were moved to the cryptocurrency exchange KuCoin. The victim stated that the FBI and a specialized forensics team are assisting in recovering the stolen funds.

The investor remains hopeful about recovering losses through gains in the current bull market despite uncertain recovery chances.

GIGA Price Analysis

Gigachad's price extends the recent decline and trades around $0.0515 at the time of writing on Tuesday, losing over 6% value in the day. GIGA was recovering on Monday, up to a high of 0.0678 before the investor’s wallet was drained by the scammer.

Source: GIGA 4-hour chart

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