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Author: Admin | 2025-04-28
Just as the entire crypto market was booming with new ATHs for Bitcoin (BTC), GIGA tokens crashed by 50%. The meme, which was one of the top cults promoted by influencers, fell after large-scale selling from two wallets. GIGA tokens crashed after a whale wallet sold off its funds. As a cult token, GIGA relied on irrational holding, especially from influencers. The reason for the crash, however, was a hacker with no skin in the game managing to drain a high-profile wallet. Still, meme tokens still have to deal with the perpetual threats of insider selling or early buyers cashing in profits. The tokens that led to the crash came from the wallet of Still In The Game, an influencer dedicated specifically to this cult. Soon after the sale, GIGA recovered to $0.04, from its usual range of $0.06. The shakedown led the token as low as $0.009 and prevented it from rallying further. The scammer accepted significant slippage to move the funds, liquidating tokens valued at $6.09M at only $2.1M in realized gains. The GIGA community swooped in to buy tokens, leading to immediate recovery after crash. | Source: DextoolsPart of the SOL was sold for stablecoins and stored in an idle address, while another portion ended up on KuCoin. The exchange may be one clue to the hacker’s real identity, though some traders may use fake profiles. In the immediate aftermath, the GIGA community intervened to relaunch the token’s market cap from $90M to $550M. It is now back to trading within a range, erasing what looked like a rug pull. Initially, observers thought the GIGA sale was the work of an insider, which counteracted the logic of holding the token as part of the community.GIGA is one of the assets promoted by Murad Mahmudov, right next to SPX6900 (SPX). This does not guarantee price performance, but this fame has made the token a hot target for exploiters. GIGA falls prey to Zoom exploitInitially, followers of Still In The Game suspected the decision to sell was intentional since all holdings were consolidated into the same wallet. However, the influencer claimed the transactions were approved by malware. ScamSniffer noted this kind of exploit is common in crypto. The scam involves reaching out to influencers with a faked Zoom package. The malware is reportedly capable of directly targeting wallets and sending out transactions. 🚨 WARNING: Beware of fake Zoom malware!A
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