A memecoin crypto investor who owns Gigachad (GIGA) tokens lost $6.09 million in a phishing attack involving a fake Zoom meeting link.

On November 12, GIGA experienced an unusual price drop triggered by a massive selling event. Soon after, proactive, proactive, a pseudonymous GIGA investor, Still in the Game alerted against the involvement of a hacker:

“I just want to be transparent – today’s massive sell on $GIGA was due to one of my wallets being drained by a fake Zoom link. This hurts bad, but I’ll be back. I will always stay in the game.”

According to crypto investigative firm Scam Sniffer, the victim clicked on a fake Zoom call invitation link that redirected her to a deceptive website designed to collect sensitive wallet information.

The phishing link installs cryptographic malware on your computer

Still in the Game said the phishing site installed malware on their laptop, which the hacker later used to pool funds from three crypto wallets into one before cashing out.

Onchain analytics firm Onchain Lens found that the hacker stole 95.3 million GIGA tokens from the victim, worth $6.09 million.

The hacker exchanged the stolen GIGA tokens for 11,759 Solana (ground) worth $2.1 million before converting them to Tether (USDT) and USD currency (USDC) stablecoins.

The hacker moved the stablecoins to another wallet address, while another 700 SOL tokens were indirectly transferred to cryptocurrency exchange KuCoin.

Law enforcement gets involved to investigate the GIGA theft

The victim said he involved the United States Federal Bureau of Investigation and a forensics team to help recover the stolen funds.

Despite the uncertainty about the recovery of funds, the investor was optimistic about making up the loss from the ongoing bull market. “I will do it all back and more. Look at me,” they added.

Related: DeltaPrime mined $4.8 million worth of ARB and AVAX tokens

Following the recent downfall of Indian crypto exchange WazirX following a $235 million hack, its founder Nischal Shetty announced plans to explore building a separate decentralized exchange (DEX). He added:

“The best thing is that you will be able to self-custody your assets here – your assets will be completely under your control – and you can freely trade or do whatever you want with your assets.”

The plan includes the possible launch of a corresponding DEX token to pay platform fees and provide a governance tool.

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