The Gutter Cat Gang Rocked by Two-Pronged Twitter Hack

When the fate of many NFT collections is at stake, the last thing they want is for an internet thug to show up and ruin their day.Unfortunately that’s exactly what happened guttercat gangrecently witnessed a Twitter account being compromised and a community member released from over $750,000 worth of NFTs.

Over the weekend, we learned that legacy NFT collections, the Guttercat Gang, have been targeted by cryptocurrency’s worst residents. In a two-pronged approach, on-chain criminals gained control of the project’s Twitter account and one of its founders, hers. Then access the follower’s wallet by pretending to be a project admin.

Taking control of Gutter Cat social, the unscrupulous scammer posted a plausible airdrop featuring the recently launched GutterMelo collection. However, the associated link directed the user to a fake mint site and performed a wallet drainer attack.

By the time things calmed down, about 87 NFTs had been swiped from about 16 wallets, and the range of stolen tokens was around $750,000. Of these, the most severely affected were 36 NFTs, including the highly coveted Bored Ape #9434.

The Gutter Cat Gang later said it regretted the attack and said it was currently cooperating with law enforcement. However, it has not commented on the possibility of refunds or attempts to retrieve the allotted items.

The Gutter Cat Gang’s Twitter account was compromised yesterday. The malicious tweet was posted on Friday afternoon (Eastern time), July 7th. The team has regained control of a known compromised account.

We immediately reached out to our Twitter, law enforcement and mobile contacts…

— Gutter Cat Gang (@GutterCatGang) July 8, 2023

Questions arise about the security of the Gutter Cat Gang

Since this attack occurred, many members of the Web3 community have questioned the security of the project and how two accounts could have been compromised at the same time. Superhuman cryptographic detective ZachXBT then joined the discussion, revealing that despite using two-factor authentication, it was SMS-based rather than a more secure app or USB-backed system. bottom.

In recent years, the SMS method has proven to be the weakest of the three methods, as it requires diligence from the network provider’s customer service staff to be effective. As a result, malicious actors were frequently able to access the target’s girlfriend’s SIM card by impersonating the owner through common customer service channels.

Despite this recent setback, the Gutter Cat Gang’s lowest prices have fluctuated only slightly in the aftermath of the incident. However, questions about the security of both Twitter and traditional NFT projects arose again.

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*All investment/financial opinions expressed by NFT PLAZA are based on the site moderator’s personal research and experience and are for educational material only. Individuals should thoroughly research any product before making any type of investment.