Police released the photos today to appeal for more information.
It is believed a number of unidentified people caused extensive damage when they spray-painted over artwork and cobblestones about 7.25pm on Saturday.
Investigators have gathered a large amount of CCTV images from the surrounding area.
They believe the latest group of people may be able to assist with their inquiries.
Following the incident, it is believed the group headed towards Melbourne Park where they got rid of the remainder of their paint into vegetation near Batman Ave.
The incident is being treated as a criminal act but because those involved left paint all over the cobblestones in the laneway, not because they painted over existing artworks.
Melbourne Lord Mayor Sally Capp tweeted on Monday, declaring that “Melbourne is the street art capital of Australia” but that “the very nature of street art is that it’s temporary, ephemeral and forever changing”.
Then she labelled the masked youths “vandals” and said their actions were “unacceptable and not in keeping with the spirit of Hosier Lane”.
The story first made headlines when Melbourne man Joe Musco shared footage of it on social media.
“Check this out. These dudes with face masks carrying fire extinguisher filled with paint hit up Hosier lane tonite,” he wrote.
“A lot of awesome art work was destroyed. I don’t know mate but that’s just sh*t. Anyhow that’s how it goes.”
Anyone who can identify the group or with any other information is urged to contact Crime Stoppers on 1800 333 000 or submit a confidential report online.