A GIGA token investor fell victim to a phishing attack that resulted in the theft of $6.09 million. Details of the incident were revealed on social media, sparking a strong reaction in the cryptocurrency community.
How the attack occurred
An investor known as 'Still in the Game' disclosed the phishing attack via social media. He stated that the massive sell-off of GIGA tokens was due to his crypto wallets being drained after clicking on a fake Zoom link. The fraudulent site installed malware on his device, which stole wallet details and assets.
Ways stolen funds were used
Blockchain analytics platform Onchain Lens reported that the hacker drained 95.3 million GIGA tokens. These assets were exchanged for 11,759 Solana, which were then converted to stablecoins Tether and USD Coin. Remaining funds were transferred to an undisclosed wallet and partially sent to the KuCoin exchange.
Response and consequences
The investor involved the FBI and forensic experts to investigate the incident. Although asset recovery remains uncertain, the affected investor hopes to recoup losses amidst a bullish crypto market. Experts urge investors to be more vigilant against attackers using phishing tactics.
Phishing attacks are becoming more prevalent in the world of cryptocurrencies, demanding heightened vigilance from investors. Effective protection against such threats requires constant awareness and caution when interacting with suspicious links and resources.
