Solana

GIGA

Bitcoin

Wrapped Solana

Impact

<ul class="wp-block-list">
 <li>A fake Zoom link scam cost a $GIGA holder $6.09M, triggering a sell-off and sparking debate over security risks in crypto.</li>  
 <li>Hackers drained three wallets, using malware to access $GIGA tokens. This has raised serious concerns about phishing in Web3.</li>  
 <li>Despite the major sell-off, $GIGA’s market cap is still up for November, though investor confidence remains shaky.</li> 
</ul>  
<p>Web3 anti-scam watchdog Scam Sniffer recently issued a warning regarding a phishing attack that resulted in an event involving the cryptocurrency $GIGA. After a huge sell-off, the coin's price fell precipitously on November 12.&nbsp;</p>  
<p>The event occurred after a prominent $GIGA holder, known as "Still in the Game," <a href="https://x.com/stigstigstig_/status/1856085747457028517" target="_blank" rel="noopener noreferrer nofollow">disclosed</a> that his wallets had been drained by a fake Zoom link. According to the victim, the scam resulted in the theft of over 95 million GIGA tokens, valued at $6.09 million. Despite the loss, the investor remains optimistic and committed to recovering the funds.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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  https://twitter.com/realScamSniffer/status/1856190628088172891
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</figure>  
<h2 class="wp-block-heading" id="h-malware-attack-exposes-vulnerabilities-in-crypto-markets">Malware Attack Exposes Vulnerabilities in Crypto Markets</h2>  
<p>After clicking on a fake Zoom link that infected their computer with spyware, the victim fell for the hoax. As a result, <a href="https://cryptonewsland.com/college-student-in-china-jailed-for-virtual-currency-fraud/" target="_blank" rel="noopener noreferrer nofollow">hackers gained access to three Bitcoin wallets</a> and extracted funds from them. The hacker then transferred the stolen tokens to an aggregator for Wrapped Solana (WSOL).&nbsp;</p>  
<p>Onchain analytics firm, Onchain Lens, confirmed the theft and the scale of the attack. The victim, now working with the FBI and a forensics team, has vowed to continue trading and recoup the loss in the ongoing bull market.</p>  
<h2 class="wp-block-heading" id="h-community-reacts-speculations-and-warnings">Community Reacts: Speculations and Warnings</h2>  
<p>While the incident is tragic, some members of the $GIGA community have raised suspicions about foul play. Meme coin speculator 0xRamonos pointed out that a single user should not have such a strong influence on the market.&nbsp;</p>  
<p>This raised doubts about the possibility of a pump-and-dump scheme, which has been a recurring issue in the meme coin space. However, others, like Murad, a well-known figure in the meme coin scene, <a href="https://x.com/MustStopMurad/status/1845856126006448271" target="_blank" rel="noopener noreferrer nofollow">vouched</a> for the credibility of the victim, claiming they had consistently posted about $GIGA’s potential.</p>  
<h2 class="wp-block-heading" id="h-impact-on-market-confidence">Impact on Market Confidence</h2>  
<p>Despite the severe <a href="https://coinmarketcap.com/currencies/gigachad-meme/" target="_blank" rel="noopener noreferrer nofollow">price drop</a>, GIGA’s market cap remains higher than at the beginning of November. However, the sudden sell-off has <a href="https://cryptonewsland.com/solana-outflow-reach-at-39m-etf-status-uncertain/" target="_blank" rel="noopener noreferrer nofollow">shaken investor confidence</a>. The fact that 85 million GIGA tokens were sold at a loss due to the price impact of the sale has left many traders questioning the future of the coin. Consequently, the incident serves as a stark reminder of the risks associated with phishing attacks and the importance of vigilance in crypto.</p> 
<p>The post <a href="https://cryptonewsland.com/phishing-scam-drains-giga-wallets-leading-to-6m-loss-and-market-turmoil/" rel="noopener noreferrer nofollow">Phishing Scam Drains $GIGA Wallets, Leading to $6M Loss and Market Turmoil</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Phishing Scam Drains $GIGA Wallets, Leading to $6M Loss and Market Turmoil

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