Phishing scam with fake boost link, Giga investor 6 million
A crypto memecoin investor holding GigaChad (GIGA) tokens lost $6.09 million in a phishing attack with a link to a fake leverage meeting.
On November 12, GIGA recorded an unusual price drop triggered by a large sell-off event. Not long ago, a prominent Giga investor warned of the hacker's involvement ‘still in the game':
“Just wanted to be clear – one of the big sales on $GIGA today was because one of my wallets was leaked with a fake zoom link. This is very painful but I will return. I always stay in the game.
According to crypto investigation firm Scam Sniffer, the victim investor clicked on a fake zoom call invitation link that redirected them to a fraudulent website designed to collect sensitive wallet information.
Source: Fraud Sniffer
A phishing link installs crypto malware on a computer.
Still in the game, a hacking site said it installed malware onto their laptops, which the hacker later used to collect funds from three crypto wallets into one before withdrawing funds.
Onchain Analytics firm Onchain Lens reported that the hacker stole 95.27 million GIGA tokens from the victim, worth $6.09 million.
The hacker exchanged 11,759 Solana (SOL), worth $2.1 million, before converting the stolen GIGA tokens into Tether (USDT) and USD Coin (USDC) stablecoins.
Source: Onchain Lens
When the hacker moved the stablecoins to another wallet address, an additional 700 SOL tokens were indirectly transferred to crypto exchange KuCoin.
Law enforcement agencies are involved in investigating GIGA theft
They were able to engage the United States Federal Bureau of Investigation and a forensics team to help the victim recover the stolen money.
While there is no guarantee of financial recovery, the investor is optimistic about recouping losses in the ongoing bull market. “I do everything backwards and forwards. Just look at me,” he added.
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After the recent collapse of Indian crypto exchange WazirX following a $235 million hack, founder Nishal Shetty has announced plans to build a separate decentralized exchange (DEX). He added:
“The best part is being able to keep your assets yourself – your assets are completely under your control – and you can freely trade or do whatever you want with your assets.”
The plan includes launching an affordable DEX token to pay fees and provide a management tool on the platform.
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