Gutter Cat Gang NFT Project Loses Over $765,000 in SIM Swap Attack
Official Twitter Accounts Hacked
On July 7, 2023, the Gutter Cat Gang NFT project was the victim of a SIM swap attack, resulting in the theft of over $765,000 in NFTs. The attack was carried out by hackers who gained access to the official Twitter accounts of the project’s co-founders, Gutter Mitch and Gutter Ric.
Counterfeit Airdrop Scams
Once the hackers had access to the co-founders’ Twitter accounts, they used them to share links to counterfeit limited edition Gutter Cat Gang NFT sneaker airdrops. These links were designed to look like they were from the official Gutter Cat Gang website, and they lured unsuspecting followers into clicking on them.
Victims’ Wallets Drained
When users clicked on the links, they were taken to a fake website that looked like the official Gutter Cat Gang website. This website would then ask users to connect their wallets, which would then be drained of their NFTs.
ZachXBT Investigates
Blockchain investigator ZachXBT was one of the first people to warn about the attack. He indicated that the project was targeted through a SIM swap attack, which is a type of attack where hackers gain access to a victim’s phone number and use it to take control of their accounts.
Victims’ Losses
ZachXBT also pointed out two victims of the attack. One unfortunate individual saw a Bored Ape Yacht Club NFT, currently worth $65,913, disappear from their possession. In a more drastic case, another victim lost a significant collection of NFTs, with a total value reaching an overwhelming $700,000.
Floor Price Remains Strong
Despite the security incident, the current floor price for Gutter Cat Gang NFTs stands at 0.5 Ether, a significant 615% increase from the initial minting cost. This suggests that the NFT community is still confident in the project, even after this security breach.
Investigation Ongoing
The Gutter Cat Gang team is currently investigating the attack, and they have promised to provide updates as they become available. They have also stated that they are working with Twitter to regain access to the compromised accounts.
Tips for Avoiding SIM Swap Attacks
There are a few things that you can do to protect yourself from SIM swap attacks. These include:
-Using a strong password for your phone number
-Enabling two-factor authentication for your phone number
-Being careful about what links you click on
-Not sharing your personal information online
The SIM swap attack on the Gutter Cat Gang NFT project is a reminder that even the most popular NFT projects are not immune to security breaches. However, by following the tips above, you can help to protect yourself from these attacks.
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This information is published by the NFT News media team.
