Crypto Memecoin Investor Loses $6 Million in Phishing Scam Using Fake Zoom Link
Key takeaways
- A crypto investor lost $6.09 million after falling victim to a phishing scam involving a fake Zoom link.
- The victim has involved the FBI and a forensics team to help recover the stolen funds.
- In the wake of the WazirX hack, the founder of WazirX, Nischal Shetty, plans to launch a decentralized exchange (DEX). This platform will give users full control over their assets.
Crypto Investor Loses $6M in Phishing Scam Involving Fake Zoom LinkA crypto investor who owned Gigachad (GIGA) tokens lost $6.09 million in a phishing scam. The scam involved a fake Zoom meeting link that tricked the investor into revealing sensitive information.
On November 12, GIGA saw an unusual price drop. This happened because of a large sell-off. Shortly after, Still in the Game,' a well-known GIGA investor,warnedeveryone, alerting the community about the possible involvement of a hacker.
This is what the investor had to say: Just being honest here, the big sell-off of $GIGA today happened because one of my wallets got drained. It was because I clicked a fake Zoom link. This loss hurts a lot, but I'll bounce back. I'm here to stay in the game."
Crypto investigation firmScam Sniffer explainedwhat happened. The investor had clicked on a fake Zoom meeting invite. This link led them to a fake website, which was set up to steal important wallet details.
Still in the Game' explained that the phishing site added malware to their laptop. This malware lets the hacker collect funds from their different crypto wallets. The hacker then moved all the money into one wallet before cashing out.
Onchain analytics firm Onchain Lensreportedthe total loss. The hacker stole 95.3 million GIGA tokens from the victim. These tokens were worth $6.09 million.
The hacker traded the stolen GIGA tokens for 11,759 Solana (SOL) tokens. These SOL tokens were worth about $2.1 million. After that, the hacker converted the SOL into Tether (USDT) and USD Coin (USDC) stablecoins.
Then, the hacker moved the stablecoins to a new wallet address. Additionally, 700 more SOL tokens were sent directly to the crypto exchange KuCoin.
The victim shared that they reached out to the United States Federal Bureau of Investigation (FBI) for help and hired a forensics team. Their goal is to recover the stolen funds.
While it's unclear whether the stolen money can be recovered, the investor seems hopeful. They believed they could earn it all back in the current bull market.
WazirX Founder Announces Decentralized Exchange (DEX) Plans After $235M Crypto HackI'll make it all back-and even more. Just watch me," they said.
After the recent collapse of the Indian crypto exchange WazirX due to a massive $235 million hack, its founder, Nischal Shetty, spoke out about the future.
He announced his plans to create a new type of exchange, a decentralized exchange (DEX). Unlike traditional exchanges, a DEX doesn't rely on a central authority to manage funds. Instead, it allows users to trade directly with one another, giving them more control over their assets.
Shetty emphasized that, in a DEX, users have self-custody" of their assets. This means each user is in full control of their own funds, keeping them safe in a personal wallet rather than storing them on the exchange.
The main appeal of this structure is that users don't have to worry as much about hacks on the exchange since they hold the keys to their assets and can decide what to do with them.
Shetty's plan also includes launching a special token for the decentralized exchange (DEX). This token would be used to pay fees when trading on the platform.
It would also serve as a tool for governance, allowing users to have a say in decisions about the platform's future. This would give the community more control over how the DEX is run.
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