Investors and even the creators of an NFT project called Gutter Cat Gang have become victims of a fraudulent attack using the so-called SIM-swapping. As a result of the situation, the losses reached a considerable amount of 765 thousand dollars. The project team on Twitter revealed some details of the actions of the scammers.

One of the founders of the project under the pseudonym Gutter Ric became the target of hackers who were able to take over his account. The accounts were used by scammers to distribute links to a fake limited-edition drop of NFT sneakers allegedly from the Gutter Cat Gang team. When clicking on such links, funds were automatically withdrawn from users’ hot wallets.

Recall that the essence of such hacks lies in the permissions to interact with smart contracts, which, among other things, are unknowingly provided by the owners of crypto assets.