Fake Zoom Link Leads to $6 Million Loss for GIGA Investor in Crypto Scam

Phishing Attack Drains $6 Million from GIGA Investor’s Wallets

On 12 November 2024, a cryptocurrency investor known as “Still in the Game” suffered a devastating loss of over $6 million in Gigachad (GIGA) tokens following a phishing attack that exploited a fake Zoom invitation link.

The investor disclosed that the massive sell-off of GIGA tokens that led to an unusual dip in the token's price was the result of a phishing attack that drained three of his crypto wallets.

Phishing Attack Unveils Deceptive Scheme

The attack began when the investor clicked on a deceptive Zoom invitation link.

This seemingly harmless link redirected them to a fraudulent website designed to steal sensitive wallet details.

Scam Sniffer, a cybersecurity firm specialising in cryptocurrency scams, confirmed that the site contained malware which was quietly installed on the investor’s device.

The malware then gave the hacker access to the investor’s wallets, enabling them to track and drain assets.

This enabled the hacker to steal a total of 95.3 million GIGA tokens, which at the time were valued at $6.09 million.

Massive Sell-Off Triggers Market Dip

Later that day, the market for GIGA tokens saw a significant dip, which was directly linked to the massive sell-off of the stolen assets.

On-chain analytics firm Onchain Lens confirmed that the hacker had transferred out all the GIGA tokens from the victim’s wallets.

In an effort to conceal the stolen funds, the attacker quickly converted the tokens into 11,759 Solana (SOL), followed by stablecoins like Tether (USDT) and USD Coin (USDC).

Following this sudden dip, the investor shared his story with the community, openly addressing the hack.

He posted on X:

“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. Please learn from me.”

Funds Converted and Laundered

After converting the stolen GIGA tokens into Solana, valued at around $2.1 million, the hacker used these assets to purchase more stablecoins.

The funds were then shifted to a separate wallet, further obscuring their origin.

An additional 700 SOL tokens were moved to the cryptocurrency exchange KuCoin, likely to facilitate liquidation or transfer to another location.

FBI and Forensics Team Investigate

Determined to track down the stolen funds, “Still in the Game” has reached out to the Federal Bureau of Investigation (FBI) and a specialised forensic team.

Together, they are working to trace the stolen GIGA tokens and recover as much of the lost assets as possible.

The investor remains hopeful that, with the ongoing recovery of the market and the support of law enforcement, they will be able to recoup their losses in the long run.