$765k+ stolen in a social media hack ☹️

GM Baos,

We’re back with a quick rundown of everything that’s happened in the Web3 space.

Today we cover:

• Gutter Cat Gang social media attacks

• The aftermath of the Multichain incident

• UniSat launching a marketplace

Gutter Cat Gang hack

An airdrop scam targeting Gutter Cat Gang has resulted in the theft of over $765k worth of NFTs.

On July 7th, around 8pm UTC, Gutter Mitch, co-founder of Gutter Cat Gang, posted that their Discord and Twitter accounts had been compromised.

He advised people not to interact with any suspicious links, but we all know that's where this begins…

ZachXBT, our resident scam buster, pointed out that the hack was carried out through a SIM swap attack.

The scammers posted the draining activity using the authentic Gutter Cat Gang account, going the extra mile to lend credibility by leveraging the project’s partnerships with brands like PUMA and LaMelo Ball.

The losses incurred were insane, with several high-profile NFTs such as BAYC, MAYC and Doodles, being among the biggest hits.

It's a reminder that nobody is immune to these attacks and that protecting your brand and Twitter account with two-factor authentication (2FA) is crucial!

Multichain

Tether has taken action by freezing approximately $2.5m worth of USDT due to a likely exploited vulnerability stemming from "Multichain" on the Fantom network a few days ago.

Other organizations are also taking steps to address the issue. Circle, the company behind USDC, has also frozen three addresses on ETH, which collectively held approximately $60m USD.

Multiple security firms are speculating that a security breach may have occurred in the network.

Some of the tokens involved in this incident amounted to roughly $58m worth of USDC, 1,020 wBTC, 7,200 wETH and several others.

It's important to note that other assets were also affected, and the transfers took place using Multichain's Moonriver bridge.

UniSat Wallet

Brace yourselves for the launch of UniSat Marketplace this week!

As many of you are already know, UniSat has made a name for itself as one of the go-to wallets for accessing the Ordinals ecosystem. With the launch of their marketplace, things are about to get crazy!

They're taking it up a notch by reducing the service fee for the entire marketplace to 0%.

They have specifically mentioned a collection called “Recursive Playground”, which will serve as a reward for the OG Ordinal communities in the space. This remarkable collection will consist of 333 Ordinals or, as they cheekily put it, 333 "playgrounds.”

Please note that the team has yet to disclose complete details, so stay tuned to their Twitter account for more information.

I’m definitely keeping an eye on this collection now, maybe there's more to it.

Make us Kek

So, what did we learn from all of this? Despite all the security measures, we still have to do our due diligence, especially when it comes to security.

Place a lock on those accounts! 😉

–Bluejohn