A big investor in Gigachad (GIGA) tokens recently suffered a significant phishing assault, resulting in a $6.09 million loss. The fraud began when the investor, known online as “Still in the Game,” clicked on what appeared to be a valid Zoom conference link, only to be routed to a bogus website meant to steal key wallet information.
On November 12, the attack caused a widespread sell-off, leading to a dramatic drop in GIGA’s value. “Still in the Game” promptly alerted the community, elucidating the cause of the sell-off: “To be clear, a false Zoom link compromised one of my wallets, causing the large sell-off of $GIGA today.” It’s painful, but I’ll be back; I’m here to stay.”
🚨 WARNING: Beware of fake Zoom malware!
— Scam Sniffer | Web3 Anti-Scam (@realScamSniffer) November 12, 2024
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
According to Scam Sniffer, a company that specializes in tracking online frauds, the phishing link directed the investor to a dangerous website that downloaded malware onto their device. This software allowed the hacker to access various cryptocurrency wallets, aggregate stolen assets, and move them to an external account.
The investor’s account contained about 95.3 million GIGA tokens, valued at $6.09 million, according to Onchain Lens, an on-chain analytics tool. The hacker immediately converted these tokens into 11,759 Solana (SOL) coins, valued at approximately $2.1 million, and then exchanged them for stablecoins such as Tether (USDT) and USD Coin (USDC).
The hacker then moved the stablecoins into other wallets, followed by a transfer of 700 SOL tokens to the KuCoin exchange, indicating an attempt to liquidate the funds even further. Following the occurrence, the investor contacted the United States Federal Bureau of Investigation (FBI) and engaged a private forensics team to search for the stolen assets and potentially retrieve them.
Despite the uncertainties surrounding the recovery process, the investor is hopeful about making up for lost cash and anticipates returns in the present market scenario. “I’ll make it all back—and then some.” “Watch me,” they said boldly.
A scammer drained 3 wallets holding $GIGA, causing a massive sell-off and a significant sell wick.
— Onchain Lens (@OnchainLens) November 12, 2024
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
In related news, Nischal Shetty, the founder of WazirX, has revealed plans to create a decentralized exchange (DEX) following a significant hack on the Indian cryptocurrency exchange. This DEX platform seeks to provide users with more control through “self-custody,” which means holding assets in personal wallets rather than on a centralized exchange. We are also considering a native DEX coin to cover transaction fees and facilitate governance decisions, thereby offering users a voice in the platform’s development.
