$GIGA Investor Loses $6M in Fake Zoom Link Phishing Scam

A GIGA token investor recently lost $6.09 million in a phishing scam. The investor, known as Still in the Game, clicked a fake Zoom meeting link that drained their wallets, triggering a huge GIGA sell-off and a sharp price drop. 

Phishing Attack Triggers Massive Sell-Off of GIGA Tokens

On Nov. 12, GIGA prices plunged after the significant sell-off by Still in the Game. The investor explained the hack, confirming that they had been tricked by a phishing scam. 

Scam Sniffer, a crypto investigation team, found that the phishing link redirected the victim to a malicious site designed to steal wallet information. The phishing site installed malware on the investor’s laptop. 

Hackers used this malware to siphon funds from three wallets into one central account before cashing out. Later, blockchain analysis firm Onchain Lens confirmed that hackers took 95.3 million GIGA tokens, worth $6.09 million.

Stolen GIGA Tokens Converted to Stablecoins

After draining the GIGA wallets, the hackers swiftly converted the stolen tokens to 11,759 SOL, valued at $2.1 million. Next, they swapped the SOL tokens for USDT and USDC stablecoins. 

To cover their tracks, the hackers transferred these stablecoins to a different wallet and indirectly moved an additional 700 SOL tokens to the KuCoin exchange. The affected investor immediately involved the FBI and a forensics team to help track down the funds. 

This attack arrives just after another major hack on the Indian crypto exchange WazirX, which lost $235 million. WazirX’s founder, Nischal Shetty, has since announced plans for a new decentralized exchange (DEX).