Memecoin investor loses $6 million in phishing attack involving malicious Zoom link
The investor received a seemingly legitimate Zoom invitation
A cryptocurrency investor holding Gigachad tokens (GIGA) recently fell victim to a sophisticated phishing scam, resulting in a loss of approximately $6.09 million.
The attack was orchestrated through a fraudulent Zoom link, highlighting the increasing sophistication of cyber threats targeting the crypto community, Cointelegraph rerorted.
On November 12, the price of the GIGA token recorded a 10.5% drop, caused by a massive sell-off. A GIGA investor under the pseudonym Still in the Game revealed the reasons for this sharp decline: “I want to be honest - the massive $GIGA sale today was due to one of my wallets being hacked.”
The phishing attack
Scam Sniffer figured out that the investor received a seemingly legitimate Zoom invitation. Upon clicking the link, they were redirected to a counterfeit website designed to mimic the official Zoom platform. Unaware of the deception, the investor entered sensitive information, granting the attackers access to their cryptocurrency wallet. This breach led to the unauthorized transfer of $6.09 million worth of 95.3 million GIGA tokens.
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Onchain Lens analysts found that the hackers exchanged GIGA tokens for 11,759 SOLs, then transferred everything in USDC and USDT to other addresses on the Kucoin exchange.
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Community response
The incident has raised alarms within the cryptocurrency community. FBI and crypto experts are involved in the investigation.Security experts emphasize the necessity for heightened vigilance against phishing schemes, which have become increasingly sophisticated. Users are advised to verify the authenticity of communication channels and to be cautious of unsolicited invitations or links.
To mitigate the risk of falling prey to similar scams, investors should:
- Verify Links: Always confirm the legitimacy of links before clicking, especially those received via unsolicited communications.
- Enable Two-Factor Authentication (2FA): Implementing 2FA adds an extra layer of security to accounts, making unauthorized access more difficult.
- Stay informed about common phishing tactics and remain cautious of unexpected requests for personal information.
This incident underscores the critical importance of cybersecurity in the cryptocurrency sector. As digital assets continue to gain prominence, both investors and platforms must prioritize robust security measures to protect against evolving cyber threats.
We also previously reported that hackers use X ads to break into cryptocurrency wallets.
