A phishing scam involving a fake Zoom link drained $6.09 million from a Gigachad (GIGA) token investor, sparking concerns about security.
GIGA Investor Loses Millions in Phishing Attack
A memecoin investor in GIGA lost $6.09 million after clicking on a fraudulent Zoom meeting link. The attack was aimed at gaining access to the investor’s wallet, causing a significant drop in GIGA’s price on November 12, when the hacker subsequently sold off a large quantity of tokens.
The prominent investor, known as Still in the Game, alerted the community about the incident:
"Today’s massive sell-off on $GIGA was due to a phishing attack through a fake Zoom link that drained my wallet. It’s a tough hit, but I’ll come back. I’m always in the game."
Fake Zoom Link Installs Malware
According to Scam Sniffer, a company focusing on crypto-related scams, the phishing link redirected the user to a fraudulent site that captured sensitive wallet information. Still in the Game shared that the site installed malware on his laptop, which the hacker later used to collect funds from three crypto wallets and transfer them to his own.
Onchain Lens, an analytics firm, confirmed that the hacker stole 95.3 million GIGA tokens valued at $6.09 million. The hacker then exchanged the stolen GIGA tokens for 11,759 Solana (SOL), roughly $2.1 million, and converted them into stablecoins Tether (USDT) and USD Coin (USDC).
Law Enforcement Investigates the GIGA Theft
The victim reported that the FBI and a forensic team have been engaged to help recover the stolen funds. Despite the uncertainty of recovery, the investor remains optimistic, hoping to make up for the loss on the ongoing bull market: “I’ll make it all back and even more. Just watch me,” he said.
Plans for a Secure DEX Platform After the WazirX Incident
Similar security concerns are being addressed by the Indian cryptocurrency exchange WazirX, which recently suffered a $235 million hack. Founder Nischal Shetty has announced plans to build a decentralized exchange (DEX) that provides full self-custody options.
"With DEX, everyone can fully secure their assets. Your holdings will be entirely under your control," he stated.
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