A cryptocurrency trader, known by the pseudonym Still in the Game, suffered a significant loss of over $6 million in Gigachad (GIGA) tokens due to a phishing attack.
According to Scam Sniffer, a cybersecurity firm focused on cryptocurrency, the investor unknowingly accessed a phishing website by clicking on a misleading Zoom invitation link. This deceptive platform was crafted to extract sensitive information from the user’s wallet.
Further analysis revealed that the fraudulent site had embedded malware on the investor’s device. This malicious software allowed the attacker to track and collect information across three of the investor’s crypto wallets, consolidating the assets before initiating withdrawals.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe – We publish new crypto explainer videos every week!
What is a Bitcoin Faucet? Pros & Cons Explained (With Animations)
On November 12, the price of GIGA saw an unusual dip, which was traced back to a major sell-off. Following this sudden market movement, an investor, known pseudonymously as Still in the Game, shared an alarming message with the community, disclosing the root cause of the large-scale transaction:
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.
Onchain Lens, an on-chain analytics organization, later discovered that the hacker had transferred 95.3 million GIGA tokens from the victim’s wallets, valued at $6.09 million. The stolen tokens were swiftly converted, with the hacker trading them for 11,759 Solana
The attacker didn’t stop there. After obtaining the stablecoins, they relocated them to a separate wallet address, further concealing the funds. Additionally, 700 SOL tokens were transferred indirectly to KuCoin
$2.57B
The victim, determined to seek justice, reached out to the Federal Bureau of Investigation (FBI) and a forensic team, aiming to trace the stolen assets and possibly recover them. Expressing optimism despite the misfortune, the investor reassured the community with a promise to bounce back.
In other news, Binance is pushing back against the SEC’s amended complaint, arguing that the regulatory body’s claims lack sufficient evidence and clarity regarding alleged securities violations.
Having completed a Master’s degree in Economics, Politics, and Cultures of the East Asia region, Aaron has written scientific papers analyzing the differences between Western and Collective forms of capitalism in the post-World War II era.
With close to a decade of experience in the FinTech industry, Aaron understands all of the biggest issues and struggles that crypto enthusiasts face. He’s a passionate analyst who is concerned with data-driven and fact-based content, as well as that which speaks to both Web3 natives and industry newcomers.
Aaron is the go-to person for everything and anything related to digital currencies. With a huge passion for blockchain & Web3 education, Aaron strives to transform the space as we know it, and make it more approachable to complete beginners.
Aaron has been quoted by multiple established outlets, and is a published author himself. Even during his free time, he enjoys researching the market trends, and looking for the next supernova.
