Frank's DeGods Wallet Compromised: 16 NFTs Lost in Security Breach

A significant security incident has impacted DeGods founder Frank (Rohun Vora), with his Solana wallet falling victim to a hacking attack that resulted in the theft of 16 DeGods NFTs. The incident occurred just three days after Frank announced his resignation as CEO, marking another challenging moment for the once-celebrated NFT project. According to Decrypt’s reporting via PANews, the unauthorized transaction led to an estimated loss of 108 SOL, equivalent to approximately $19,000 at the time of the incident.

The Details Behind the Compromise

Frank quickly responded to media inquiries, confirming that the security breach was indeed the result of a hacker attack and dismissing speculation that he had voluntarily sold the assets. Despite the significant loss, Frank emphasized that this incident does not reflect his overall holdings, noting that he maintains substantial DeGods assets in his portfolio. The stolen NFTs represent just a fraction of his total DeGods position, though the public nature of the hack raised concerns within the community about wallet security practices across the broader NFT ecosystem.

DeGods’ Troubled Market Performance

The value of DeGods NFTs has experienced a dramatic decline since their peak. In 2023, the project’s floor price reached a remarkable $37,000, reflecting strong market demand. However, the valuation has since contracted significantly to approximately $1,000 in recent assessments—a decline of over 97% from its historical high. This sharp downturn reflects broader challenges facing the DeGods project, including multiple cross-chain migrations that have complicated its market trajectory and fragmented its community.

Leadership Transition and Project Forward

Following the security incident, Frank officially transferred operational control of the DeGods project to pseudonymous team members known as Pasta and Chill this week. Despite stepping back from his CEO role, Frank continues to hold DEGOD ecosystem tokens worth over $50,000, indicating his ongoing stake in the project’s future. The transition represents a strategic pivot as the project navigates both technical challenges and market headwinds. For context, Solana (SOL) currently trades at $127.41, providing perspective on the broader blockchain market conditions affecting NFT valuations.