The Gutter Cat Gang, a popular nonfungible token (NFT) project, has fallen victim to a devastating SIM swap attack, resulting in the theft of over $765,000 worth of valuable NFTs.
The breach was discovered when community members noticed suspicious activity on the project’s official Twitter accounts, leading to a warning from the co-founders. This article delves into the details of the attack, the impact on victims, and the ongoing investigation.
On July 7, multiple NFT community members raised the alarm after noticing compromised tweets from the official Gutter Cat Gang Twitter accounts.
Co-founder @GutterMitch issued a warning, urging users not to interact with any links shared by the compromised accounts. It was later revealed that co-founder @gutterric had also been hacked.
The attackers took advantage of the compromised accounts to share fake “limited edition” Gutter Cat Gang NFT sneaker airdrops, which ultimately resulted in the draining of victims’ hot wallets when they clicked on the fraudulent links.
The fraudulent tweets were designed to deceive users by including recent Gutter Cat Gang branding and imagery from the project’s collaboration with Puma and NBA/Charlotte Hornets star LaMelo Ball.
Notable blockchain investigator ZachXBT pointed out that the team likely fell victim to a SIM swap attack, emphasizing the need for stronger cybersecurity practices.
Unfortunately, there were confirmed victims of the attack, with one losing a Bored Ape Yacht Club NFT valued at $65,913 and another losing a staggering $700,000 worth of NFTs from various renowned collections.
Gutter Cat Gang co-founder @gutterdan_ provided an update, stating that they are working with Twitter to regain control of the compromised accounts.
Expressing deep sympathy for the affected individuals, the team assured the community that they are taking the matter seriously and collaborating with law enforcement agencies to investigate the hack and security breach.