Over $765K Worth Of NFTs Stolen After SIM Swap Attack On GutterCatGang

More than $765,000 worth of nonfungible tokens has been stolen as part of a reported SIM swap attack on the GutterCatGang NFT project.

The security breach was highlighted by several NFT community members at around 8 pm UTC on July 7, with GutterCatGang co-founder @GutterMitch tweeting out a warning that: “Our Twitter has been compromised please do not interact with any links.”

Our Twitter has been compromised please do not interact with any links

— Gutter Mitch (@GutterMitch) July 7, 2023

Alongside the official GutterCatGang account, co-founder @gutterric was also hacked.

The hacker, or hackers used the accounts to share links to fake “limited edition” GutterCatGang NFT sneaker airdrops that essentially drained people’s hot wallets when they clicked on them.

In an effort to make the fictitious links look more legitimate, the tweets included recent GutterCatGang branding and imagery from the project’s phygital sneaker drop in partnership with Puma and NBA/Charlotte Hornets star LaMelo Ball.

GutterCatGang Twitter account has been compromised please do not interact with it. #GutterCatGang @gutterdan_ @GutterCatGang —-> ⚠️⛔️ pic.twitter.com/tBu9fwBI7m

— Burden © (@0x_burden) July 7, 2023

Responding to Gutter Mitch’s thread, prominent blockchain sleuth ZachXBT asserted that the team was hacked via a SIM swap attack, as he questioned the team’s cyber security practices.

“Your team better look at a compensation plan for victims as it is gross negligence to have used SMS 2FA on your socials after all of the recent SIM swaps,” ZachXBT said.

In a separate thread, ZachXBT highlighted two victims of the attack, with one losing a Bored Ape Yacht Club NFT worth $65,913 at current floor prices, and another losing a whopping $700,000 worth of NFTs from a host of blue chip collections.

Someone else just lost $700k of assets (couple BAYCs, MAYC, Doodles, BAKCs, etc) pic.twitter.com/noNvkqkw9U

— ZachXBT (@zachxbt) July 7, 2023

Providing an update on the matter, GutterCatGang co-founder @gutterdan_ stated: “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 assure you that we are taking this matter very seriously and are working with law enforcement to investigate the hack and security breach,” he wrote.