So I was scrolling through some Solana charts today and noticed something wild happened with GIGA. Apparently there was this massive dump that took the market cap from like $614 million down to $92 million in what looked like seconds. Pretty crazy stuff for a meme coin that just got listed on major exchanges recently.

At first everyone thought it was a classic pump and dump scheme, you know how it goes in this space. But then this trader posted that his wallet got compromised through a fake Zoom link, and that's what caused the huge selloff. He claimed he was trying to be transparent about it, said he lost a lot but would come back to the game. Some people vouched for him being legit, though honestly in the meme coin world that doesn't always mean much.

The numbers were pretty brutal - someone dumped 85 million GIGA tokens but only got $2.09 million for them because of the price impact. Like, you'd think if you're gonna do a massive exit you'd be smarter about it. They converted it all to Wrapped Solana through Jupiter too.

The wild part is that GIGA actually recovered pretty quick to around $545 million market cap, so it's not like it totally collapsed. But this incident definitely shook people's confidence. I'm keeping an eye on it because meme coins are always unpredictable, and something like this usually leaves some lingering doubt. The current market cap is way lower now at like $17 million, so seems like the damage might be more permanent than it looked initially. Definitely a reminder to be careful with links and stay skeptical of these sudden moves, even when people claim to have good reasons for them.