Gutter Cat Gang NFT Project Hit by $765,500 SIM Swap Attack

As part of a reported SIM swap attack on the Gutter Cat Gang non fungible tokens (NFT) project, NFT worth more than $765,500 have been stolen.

Several NFT community members drew attention to the security breach around 8 p.m.

UTC on July 7, with Gutter Cat Gang co-founder @GutterMitch tweeting, “Our Twitter has been compromised; please do not interact with any links.”

In addition to the official Gutter Cat Gang account, co-founder @gutterric’s account was also compromised.

The hacker or hackers used the accounts to distribute links to fake “limited edition” Gutter Cat Gang NFT sneaker airdrops that, when clicked, effectively emptied people’s hot wallets.

The tweets included current Gutter Cat Gang branding and images from the project’s phygital sneaker drop in partnership with Puma and NBA/Charlotte Hornets star LaMelo Ball to make the fictitious links appear more authentic.

ZachXBT, a prominent blockchain detective, responded to Gutter Mitch’s thread by asserting that the team was hacked via a SIM swap attack and questioning the team’s cyber security practices.

“Your team should consider a compensation plan for victims, as it was gross negligence to use SMS 2FA on your socials after the recent SIM swaps,” ZachXBT advised.

ZachXBT highlighted two victims of the attack in a separate thread. One lost a Bored Ape Yacht Club NFT valued at $65,913 at current floor prices, while the other lost a staggering $700,000 worth of NFTs from various blue-chip collections.

Gutter Cat Gang co-founder @gutterdan_ provided an update on the situation by stating, “We are working with Twitter to regain access to the compromised Gutter-affiliated Twitter accounts.”

“We deeply sympathize with all those impacted and want to reassure you that we are taking this matter very seriously and are working with law enforcement to investigate the hack and security breach,” he wrote.

It appears at the time of writing that the accounts are still compromised.

Gutter Cat Gang was released in the middle of 2021 and features 3000 different NFT cartoon cat avatars. According to NFT Price Floor, the current floor price is 0.5 Ether, up almost 615 percent from the initial cost to mint.