A phishing scam has cost a prominent investor in the GIGA token (GIGA) $6.09 million after they fell victim to a fake Zoom link. On November 12, GIGA experienced a sharp price drop due to a massive sell-off, which was later revealed to be the result of a phishing attack. The investor, known as “Still in the Game,” disclosed on social media that their wallet had been compromised after clicking a fraudulent Zoom link, which redirected them to a fake website designed to steal sensitive wallet information.
The scam was part of a broader trend of phishing attacks targeting the cryptocurrency community. In this case, the malicious website installed malware on the victim’s laptop, which the hacker later used to access and drain funds from the investor’s crypto wallets. The hacker then consolidated the stolen funds from three wallets into one before proceeding with the conversion of 95.3 million GIGA tokens into Solana (SOL), worth $2.1 million. They then swapped the Solana tokens for Tether (USDT) and USD Coin (USDC), popular stablecoins, further obscuring the trail.
Onchain analytics firm, Onchain Lens, traced the stolen tokens and confirmed the transaction. The stolen funds were subsequently moved to a different wallet address, and part of the stolen Solana (700 SOL) was transferred indirectly to the crypto exchange KuCoin. In response to the attack, the victim reached out to the United States Federal Bureau of Investigation (FBI) and engaged a forensic team to help trace and possibly recover the stolen funds. While the victim is uncertain about the recovery, they remain hopeful, expressing confidence in their ability to recover financially, citing the ongoing bullish market conditions.
This attack highlights the ongoing risks of phishing scams in the cryptocurrency space, particularly targeting high-profile investors. As phishing tactics continue to evolve, with cybercriminals using trusted platforms like Zoom to lure victims into their traps, it’s crucial for crypto investors to remain vigilant and employ robust security practices to safeguard their digital assets. The involvement of law enforcement agencies in tracking down the perpetrators of such attacks also underscores the growing need for collaboration between the crypto industry and traditional security institutions to combat cybercrime effectively.
