Originally published on: November 12, 2024
A devastating phishing scam involving a fake Zoom link cost a Gigachad (GIGA) investor a whopping $6.09 million. This unfortunate incident took place when the victim fell prey to a deceptive website disguised as a legitimate Zoom meeting invite.
The alarming price drop experienced by GIGA on Nov. 12 raised suspicions, prompting the well-known pseudonymous GIGA investor, Still in the Game, to issue a warning regarding a potential hacker’s involvement in the situation.
Reports from the crypto investigation firm, Scam Sniffer, revealed that the victim unknowingly clicked on the fraudulent Zoom call link that led to a malicious website aiming to extract sensitive wallet details.
As per Still in the Game, the hacker implanted malware into the victim’s device through the fake website. This malicious software enabled the cybercriminal to amalgamate funds from three separate crypto wallets into one before making a swift exit with the stolen assets.
The suspect managed to make off with a staggering 95.3 million GIGA tokens from the victim, totaling a massive $6.09 million. Following the theft, the hacker swiftly converted the pilfered GIGA tokens into 11,759 Solana (SOL) tokens worth $2.1 million, subsequently converting them into Tether (USDT) and USD Coin (USDC) stablecoins.
During the course of the unlawful activities, the hacker transferred the stablecoins to a different wallet address while diverting an additional 700 SOL tokens to the popular crypto exchange, KuCoin.
In a bid to tackle the aftermath of this devastating scam, the victim enlisted the help of the United States Federal Bureau of Investigation along with a specialized forensics team to recover the stolen assets.
Despite facing an uphill battle to reclaim the lost funds, the investor remained optimistic about recuperating the losses in the current bullish market. “I’m determined to not just recover but thrive in the face of adversity,” they vowed.
In light of recent crypto scandals, such as the $235 million hack of the Indian exchange WazirX, founder Nischal Shetty expressed intentions to explore developing a decentralized exchange (DEX). This initiative could encompass the potential creation of a DEX token for fee payments on the platform and governance purposes.
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