GHOST STADIUM is a Chinese-speaking, financially motivated threat actor operating a sophisticated phishing campaign across over 300 domains, utilizing a custom React-based phishing kit that closely mimics FIFA's official website and exploits the PingIdentity SSO login flow. The campaign has the potential to generate financial losses estimated between $71 million and $474 million from premium ticket fraud alone, with total losses potentially reaching billions. GHOST STADIUM employs Facebook Ads as a primary traffic acquisition channel and has been linked to 2,513 compromised FIFA credentials available on dark-web markets. The actor is part of a broader fraud ecosystem that includes multiple parallel schemes, such as credential phishing and counterfeit merchandise sales.