A Giga Token holder has become a victim of a phishing attack, losing over 95 million GIGA tokens, equivalent to $6.09 million. Scammers used a fake Zoom link to gain access to the victim's cryptocurrency wallet.
How the Attack Happened
An investor holding GIGA tokens received a fraudulent Zoom link that appeared legitimate. Upon clicking, they were directed to a fake website that stole their wallet information. The hacker extracted 95.3 million GIGA tokens, according to Onchain Lens, and converted them into $SOL, which was later exchanged for stablecoins $USDC and $USDT, with some of the funds reaching the KuCoin exchange.
Victim's Reaction and Next Steps
Following the loss, the victim contacted the FBI and a forensics team to investigate the incident and potentially recover the stolen funds. However, the recovery remains uncertain.
The Growing Threat of Crypto Phishing Attacks
Crypto phishing attacks are becoming more sophisticated. According to Chainalysis, scammers are generating billions in illicit funds in 2024. The duration of such scams has decreased from 271 days in 2020 to just 42 days in 2024.
Phishing attacks in the crypto sector are becoming more frequent and complex. Digital asset owners must increase their awareness and caution in online interactions.
